Palo Alto Networks, Inc. (NASDAQ:PANW) Position Lifted by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 16.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,271 shares of the network technology company’s stock after purchasing an additional 2,189 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Palo Alto Networks were worth $5,220,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PANW. Vanguard Group Inc. increased its holdings in shares of Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after acquiring an additional 1,002,239 shares during the last quarter. International Assets Investment Management LLC increased its stake in Palo Alto Networks by 34,318.2% during the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after purchasing an additional 3,249,594 shares during the last quarter. Legal & General Group Plc raised its stake in Palo Alto Networks by 8.5% during the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after acquiring an additional 255,060 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Palo Alto Networks by 5.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock worth $757,321,000 after acquiring an additional 114,742 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Palo Alto Networks by 8.0% during the second quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock valued at $339,183,000 after purchasing an additional 73,922 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $398.02 on Wednesday. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $400.69. The stock has a market cap of $129.60 billion, a PE ratio of 54.90, a PEG ratio of 5.77 and a beta of 1.12. The firm has a 50-day simple moving average of $355.84 and a 200 day simple moving average of $333.78.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Scotiabank increased their target price on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Needham & Company LLC raised their price target on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a report on Monday, November 4th. Robert W. Baird boosted their price target on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Finally, KeyCorp increased their price objective on shares of Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $378.87.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 41,517 shares of the company’s stock, valued at $14,175,564.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock valued at $89,383,077 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

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.