Terra Nova Asset Management LLC Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Terra Nova Asset Management LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,324 shares of the network technology company’s stock after acquiring an additional 696 shares during the quarter. Palo Alto Networks makes up 2.1% of Terra Nova Asset Management LLC’s portfolio, making the stock its 19th biggest position. Terra Nova Asset Management LLC’s holdings in Palo Alto Networks were worth $2,845,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PANW. Fisher Asset Management LLC raised its holdings in Palo Alto Networks by 7.2% in the fourth quarter. Fisher Asset Management LLC now owns 1,806 shares of the network technology company’s stock worth $533,000 after purchasing an additional 121 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Palo Alto Networks in the fourth quarter worth $60,000. GAMMA Investing LLC increased its holdings in shares of Palo Alto Networks by 4.2% during the first quarter. GAMMA Investing LLC now owns 2,580 shares of the network technology company’s stock valued at $733,000 after acquiring an additional 103 shares in the last quarter. Northwest Capital Management Inc increased its holdings in shares of Palo Alto Networks by 18.3% during the first quarter. Northwest Capital Management Inc now owns 355 shares of the network technology company’s stock valued at $101,000 after acquiring an additional 55 shares in the last quarter. Finally, Alaska Permanent Fund Corp increased its holdings in shares of Palo Alto Networks by 403.5% during the first quarter. Alaska Permanent Fund Corp now owns 720 shares of the network technology company’s stock valued at $205,000 after acquiring an additional 577 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 351,452 shares of company stock valued at $118,643,279 in the last quarter. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Trading Down 1.2 %

PANW traded down $4.44 on Wednesday, hitting $370.00. 229,086 shares of the company’s stock traded hands, compared to its average volume of 4,047,283. The company’s 50 day simple moving average is $345.25 and its 200-day simple moving average is $321.26. The firm has a market cap of $119.81 billion, a price-to-earnings ratio of 54.42, a P/E/G ratio of 5.26 and a beta of 1.13. 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 issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) 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 quarter last year, the company earned $0.80 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PANW. Northland Securities raised their price target on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their price target on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Redburn Atlantic downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their price target for the company from $350.00 to $325.00 in a report on Thursday, July 18th. BNP Paribas began coverage on Palo Alto Networks in a report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price target for the company. Finally, JMP Securities restated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 20th. Eleven equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $372.28.

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.