Cohen Capital Management Inc. Purchases Shares of 924 Palo Alto Networks, Inc. (NASDAQ:PANW)

Cohen Capital Management Inc. acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 924 shares of the network technology company’s stock, valued at approximately $316,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $25,000. Capital Advisors Ltd. LLC lifted its holdings in Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares during the period. Sound Income Strategies LLC boosted 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 valued at $29,000 after acquiring an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. raised its position in shares of Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.2 %

NASDAQ:PANW opened at $362.00 on Monday. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00. The firm’s 50 day moving average is $352.69 and its 200 day moving average is $329.75. The stock has a market capitalization of $117.87 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 5.22 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Research analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the sale, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were 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 directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock worth $89,383,077 over the last quarter. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Scotiabank raised their target price on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Susquehanna boosted their target price on shares of Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research report on Thursday, September 5th. Bank of America increased their target price on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Northland Securities lifted their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research note on Tuesday, August 20th. Finally, DA Davidson increased their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $378.49.

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.