MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases 2,580 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 38.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,283 shares of the network technology company’s stock after buying an additional 2,580 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Palo Alto Networks were worth $3,173,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PANW. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. grew its position in Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares in the last quarter. Sound Income Strategies LLC grew its position in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 67 shares in the last quarter. Central Bank & Trust Co. grew its position in Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares in the last quarter. Finally, Cape Investment Advisory Inc. grew its position in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after buying an additional 100 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Price Performance

Shares of PANW opened at $373.20 on Monday. The firm has a market capitalization of $120.84 billion, a P/E ratio of 54.24, a PEG ratio of 5.26 and a beta of 1.13. The business has a fifty day moving average of $342.20 and a 200 day moving average of $320.00. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $0.80 earnings per share. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of research reports. Susquehanna upped their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Oppenheimer raised their price target 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. Morgan Stanley raised their price target on Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, KeyCorp raised their price target on Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $372.28.

Insider Activity

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

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.