Daymark Wealth Partners LLC Buys 135 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Daymark Wealth Partners LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,566 shares of the network technology company’s stock after purchasing an additional 135 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Palo Alto Networks were worth $535,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its position in Palo Alto Networks by 91.0% during the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock worth $478,000 after acquiring an additional 802 shares in the last quarter. Alpha Cubed Investments LLC raised its holdings 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 valued at $79,149,000 after purchasing an additional 32,626 shares during the period. Jennison Associates LLC grew its holdings in Palo Alto Networks by 7.6% during the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after purchasing an additional 198,078 shares during the period. Brookstone Capital Management increased its holdings 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 worth $7,502,000 after acquiring an additional 8,611 shares during the last quarter. Finally, Wealthspire Advisors LLC raised its position in shares of Palo Alto Networks by 1.7% in the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 1.8 %

PANW opened at $369.40 on Friday. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $380.84. The company has a fifty day moving average of $339.77 and a 200-day moving average of $318.54. The stock has a market cap of $120.28 billion, a PE ratio of 50.95, a price-to-earnings-growth ratio of 5.26 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced 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. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate 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 revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

PANW has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Barclays boosted their price target on Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Redburn Atlantic lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their target price for the company from $350.00 to $325.00 in a report on Thursday, July 18th. Finally, The Goldman Sachs Group upped their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday. Eleven analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $371.50.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the sale, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,866 shares of company stock worth $88,620,447 over the last three months. 3.30% of the stock is currently owned by insiders.

About Palo Alto Networks

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.