McClarren Financial Advisors Inc. Buys 107 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

McClarren Financial Advisors Inc. increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 31.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 446 shares of the network technology company’s stock after purchasing an additional 107 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in Palo Alto Networks were worth $152,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. grew its stake in shares of 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 valued at $478,000 after purchasing an additional 802 shares during the last quarter. Alpha Cubed Investments LLC lifted its holdings in Palo Alto Networks by 16.4% in the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after buying an additional 32,626 shares during the period. Jennison Associates LLC lifted its holdings in Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after buying an additional 198,078 shares during the period. Brookstone Capital Management raised its holdings in Palo Alto Networks by 48.4% in the first quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock worth $7,502,000 after purchasing an additional 8,611 shares during the period. Finally, Wealthspire Advisors LLC raised its holdings in 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 worth $1,244,000 after purchasing an additional 75 shares during the period. 79.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PANW has been the topic of several analyst reports. Stifel Nicolaus increased their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Northland Securities increased their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a report on Tuesday, August 20th. BNP Paribas started coverage on shares of Palo Alto Networks in a research report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price objective for the company. Bank of America increased their price objective on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, Rosenblatt Securities increased their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $375.79.

Palo Alto Networks Stock Down 0.4 %

Shares of NASDAQ PANW traded down $1.32 during mid-day trading on Friday, reaching $374.83. 1,449,963 shares of the company were exchanged, compared to its average volume of 2,382,185. The company’s 50-day simple moving average is $348.67 and its 200-day simple moving average is $323.01. The stock has a market capitalization of $121.37 billion, a P/E ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company 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%. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks 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 completion of the sale, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the transaction, the chief executive officer now owns 639,994 shares of the company’s stock, valued at $219,505,142.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock worth $118,643,279 in the last quarter. 3.30% of the stock is currently owned by corporate 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.