Objective Capital Management LLC Buys Shares of 824 Palo Alto Networks, Inc. (NASDAQ:PANW)

Objective Capital Management LLC bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 824 shares of the network technology company’s stock, valued at approximately $282,000.

Other large investors have also recently made changes to their positions in the company. Alpha Cubed Investments LLC raised its position in shares of Palo Alto Networks by 16.4% in the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after acquiring an additional 32,626 shares in the last quarter. Mainstream Capital Management LLC bought a new position in shares of Palo Alto Networks in the 3rd quarter worth $1,156,000. Wealthspire Advisors LLC raised its position in shares of Palo Alto Networks by 1.7% in the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock worth $1,244,000 after acquiring an additional 75 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Palo Alto Networks by 3.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock worth $67,232,000 after acquiring an additional 7,291 shares in the last quarter. Finally, Harvest Portfolios Group Inc. bought a new position in shares of Palo Alto Networks in the 3rd quarter worth $24,414,000. 79.82% of the stock is owned by institutional investors.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now owns 41,517 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders sold 255,252 shares of company stock valued at $89,383,077. 3.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PANW. KeyCorp upped their target price on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a research report on Thursday. Cantor Fitzgerald raised Palo Alto Networks to a “strong-buy” rating in a research report on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research note on Monday, November 4th. Finally, Oppenheimer boosted their price target on Palo Alto Networks from $410.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Stock Up 1.1 %

Shares of Palo Alto Networks stock traded up $4.40 during mid-day trading on Friday, reaching $391.40. 2,058,275 shares of the stock traded hands, compared to its average volume of 2,036,318. The business has a 50-day moving average of $355.13 and a 200 day moving average of $332.47. Palo Alto Networks, Inc. has a fifty-two week low of $234.15 and a fifty-two week high of $393.21. The stock has a market capitalization of $127.44 billion, a PE ratio of 53.99, a PEG ratio of 5.59 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 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 during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

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.