Azzad Asset Management Inc. ADV Purchases 57 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Azzad Asset Management Inc. ADV grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,890 shares of the network technology company’s stock after acquiring an additional 57 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Palo Alto Networks were worth $2,675,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks during the first quarter worth $25,000. Frank Rimerman Advisors LLC bought a new stake in Palo Alto Networks during the 4th quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Palo Alto Networks by 3,200.0% during the 1st 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 during the last quarter. Ulland Investment Advisors LLC bought a new position in shares of Palo Alto Networks in the 1st quarter valued at about $30,000. Finally, Central Bank & Trust Co. increased its position in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Price Performance

NASDAQ PANW traded up $4.51 on Friday, reaching $362.72. The company had a trading volume of 2,986,974 shares, compared to its average volume of 4,373,807. Palo Alto Networks, Inc. has a fifty-two week low of $224.64 and a fifty-two week high of $380.84. The firm has a market cap of $117.45 billion, a price-to-earnings ratio of 52.72, a P/E/G ratio of 4.40 and a beta of 1.14. The business has a 50 day moving average of $332.99 and a two-hundred day moving average of $311.19.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business earned $0.80 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on PANW. Deutsche Bank Aktiengesellschaft increased their price target on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Daiwa America raised shares of Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Macquarie upped their price target on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Stifel Nicolaus increased their price target on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, BTIG Research boosted their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research note 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 MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $363.49.

Insiders Place Their Bets

In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the transaction, the director now directly owns 12,639 shares in the company, valued at approximately $3,860,076.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Key sold 2,163 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the completion of the transaction, the director now owns 12,639 shares in the company, valued at approximately $3,860,076.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,372 shares of company stock worth $121,925,593. Company insiders own 3.30% of the company’s stock.

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.