Migdal Insurance & Financial Holdings Ltd. Has $19.24 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Migdal Insurance & Financial Holdings Ltd. decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.7% during the third quarter, Holdings Channel.com reports. The firm owned 56,281 shares of the network technology company’s stock after selling 1,547 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Palo Alto Networks were worth $19,237,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter valued at about $25,000. Capital Advisors Ltd. LLC grew its stake in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its stake in shares of Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. grew its stake in shares of Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW stock traded up $4.40 during trading hours on Friday, hitting $391.40. 2,058,275 shares of the company’s stock were exchanged, compared to its average volume of 2,036,318. The stock’s 50-day moving average is $355.13 and its 200-day moving average is $332.47. The stock has a market cap of $127.44 billion, a price-to-earnings ratio of 53.99, a price-to-earnings-growth ratio of 5.59 and a beta of 1.12. Palo Alto Networks, Inc. has a 52 week low of $234.15 and a 52 week high of $393.21.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 earnings per share. Equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the sale, the director now directly owns 41,517 shares in the company, valued at approximately $14,175,564.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,252 shares of company stock worth $89,383,077 over the last 90 days. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PANW. Susquehanna boosted their price target on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research note on Thursday, September 5th. Citigroup boosted their price target on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Bank of America upped their target price on Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, Evercore ISI upped their target price on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.49.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.