Elo Mutual Pension Insurance Co Has $10.07 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Elo Mutual Pension Insurance Co increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,647 shares of the network technology company’s stock after buying an additional 837 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Palo Alto Networks were worth $10,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Sunbelt Securities Inc. lifted its position in shares of Palo Alto Networks by 91.0% during the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after acquiring an additional 802 shares during the period. Jennison Associates LLC lifted its position in shares of Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after acquiring an additional 198,078 shares during the period. Brookstone Capital Management lifted its position in shares of Palo Alto Networks by 48.4% during the 1st quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after acquiring an additional 8,611 shares during the period. Wealthspire Advisors LLC lifted its position in shares of Palo Alto Networks by 1.7% during the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after acquiring an additional 75 shares during the period. Finally, Connectus Wealth LLC lifted its position in shares of Palo Alto Networks by 22.8% during the 4th quarter. Connectus Wealth LLC now owns 43,813 shares of the network technology company’s stock valued at $12,920,000 after acquiring an additional 8,132 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Daiwa America upgraded Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. UBS Group upped their target price on Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada upped their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Oppenheimer upped their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets increased their target price on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $366.08.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the transaction, the president now owns 19,026 shares in the company, valued at $6,452,097.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Mary Pat Mccarthy sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the sale, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the transaction, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. Insiders sold 464,075 shares of company stock valued at $154,029,567 in the last three months. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $337.93 on Wednesday. The stock’s 50 day moving average price is $336.41 and its two-hundred day moving average price is $312.63. The stock has a market capitalization of $110.03 billion, a price-to-earnings ratio of 49.12, a PEG ratio of 5.03 and a beta of 1.13. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the company posted $0.80 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

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.