Blake Schutter Theil Wealth Advisors LLC Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Blake Schutter Theil Wealth Advisors LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, Holdings Channel reports. The institutional investor purchased 2,356 shares of the network technology company’s stock, valued at approximately $805,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kathmere Capital Management LLC raised its position in Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after acquiring an additional 30 shares during the period. FLC Capital Advisors lifted its stake in shares of Palo Alto Networks by 0.7% during the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after buying an additional 30 shares in the last quarter. Cromwell Holdings LLC boosted its holdings in Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after buying an additional 30 shares during the period. Rosenberg Matthew Hamilton raised its holdings in Palo Alto Networks by 9.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after acquiring an additional 30 shares during the period. Finally, Geneva Partners LLC lifted its position in shares of Palo Alto Networks by 0.3% during the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after acquiring an additional 30 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PANW. Cantor Fitzgerald raised Palo Alto Networks to a “strong-buy” rating in a report on Friday, November 1st. Redburn Atlantic cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $350.00 to $325.00 in a research note on Thursday, July 18th. Citigroup boosted their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Barclays increased their price objective on Palo Alto Networks from $370.00 to $410.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein boosted their target price on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $378.49.

Palo Alto Networks Trading Up 5.2 %

Shares of PANW opened at $385.18 on Thursday. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $386.20. The business’s fifty day simple moving average is $353.98 and its two-hundred day simple moving average is $331.32. The company has a market cap of $125.41 billion, a price-to-earnings ratio of 53.13, a P/E/G ratio of 5.23 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted its 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. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the business earned $0.80 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Insider Activity

In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the transaction, the director now directly owns 41,517 shares in the company, valued at $14,175,564.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock valued at $89,383,077 in the last quarter. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks 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.