Tandem Capital Management Corp ADV Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Tandem Capital Management Corp ADV increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,158 shares of the network technology company’s stock after buying an additional 150 shares during the period. Tandem Capital Management Corp ADV’s holdings in Palo Alto Networks were worth $1,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sound Income Strategies LLC raised its position in shares of Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks in the first quarter worth $25,000. First PREMIER Bank lifted its position in Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after buying an additional 31 shares during the period. Cape Investment Advisory Inc. lifted 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 valued at $31,000 after buying an additional 100 shares during the period. Finally, New England Capital Financial Advisors LLC grew its position in shares of Palo Alto Networks by 833.3% in the 1st quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock worth $32,000 after buying an additional 100 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 1.6 %

Shares of NASDAQ:PANW traded up $5.85 during trading on Friday, hitting $370.43. The stock had a trading volume of 117,421 shares, compared to its average volume of 3,977,456. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00. The stock has a market capitalization of $120.61 billion, a price-to-earnings ratio of 50.29, a price-to-earnings-growth ratio of 5.45 and a beta of 1.13. The stock has a 50-day simple moving average of $350.84 and a two-hundred day simple moving average of $325.17.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Analysts Set New Price Targets

PANW has been the subject of a number of recent research reports. TD Cowen lifted their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. BMO Capital Markets boosted their price target on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Evercore ISI lifted their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. BTIG Research increased their target price on Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, KeyCorp increased their price objective on shares of Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $376.82.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the transaction, the executive vice president now directly owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is owned by insiders.

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.