Palo Alto Networks, Inc. (NASDAQ:PANW) Position Increased by Carr Financial Group Corp

Carr Financial Group Corp increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 715 shares of the network technology company’s stock after purchasing an additional 30 shares during the quarter. Carr Financial Group Corp’s holdings in Palo Alto Networks were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC lifted its position in shares of Palo Alto Networks by 16.1% in the first quarter. Concurrent Investment Advisors LLC now owns 4,470 shares of the network technology company’s stock worth $1,270,000 after buying an additional 621 shares during the last quarter. Abbrea Capital LLC boosted its holdings in shares of Palo Alto Networks by 5.8% during the 1st quarter. Abbrea Capital LLC now owns 841 shares of the network technology company’s stock worth $239,000 after buying an additional 46 shares during the period. WNY Asset Management LLC acquired a new position in Palo Alto Networks in the 1st quarter valued at $305,000. NorthRock Partners LLC grew its stake in Palo Alto Networks by 9.0% in the 1st quarter. NorthRock Partners LLC now owns 1,399 shares of the network technology company’s stock valued at $397,000 after buying an additional 116 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its holdings in Palo Alto Networks by 4.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,278 shares of the network technology company’s stock worth $1,216,000 after acquiring an additional 191 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the sale, the director now owns 41,517 shares in the company, valued at $14,175,564.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the sale, the director now owns 41,517 shares of the company’s stock, valued at $14,175,564.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,252 shares of company stock worth $89,383,077. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PANW shares. Wedbush restated an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. Robert W. Baird increased their target price on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Citigroup lifted their price target on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Sanford C. Bernstein upped their price target on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Finally, Needham & Company LLC raised their price objective on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Trading Up 1.1 %

Shares of NASDAQ PANW opened at $391.40 on Friday. The company has a market capitalization of $127.44 billion, a P/E ratio of 53.99, a P/E/G ratio of 5.59 and a beta of 1.12. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $393.21. The stock has a 50 day moving average of $355.13 and a 200-day moving average of $332.47.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The firm 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 company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 earnings per share. Analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

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.