Saturna Capital Corp Buys 126 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Saturna Capital Corp grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,459 shares of the network technology company’s stock after buying an additional 126 shares during the quarter. Saturna Capital Corp’s holdings in Palo Alto Networks were worth $1,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pinnacle Financial Partners Inc grew its stake in shares of Palo Alto Networks by 3.4% during the third quarter. Pinnacle Financial Partners Inc now owns 38,539 shares of the network technology company’s stock valued at $13,173,000 after buying an additional 1,269 shares during the last quarter. Hartline Investment Corp grew its stake in shares of Palo Alto Networks by 0.4% in the third quarter. Hartline Investment Corp now owns 35,677 shares of the network technology company’s stock worth $12,194,000 after purchasing an additional 135 shares during the last quarter. MQS Management LLC bought a new stake in shares of Palo Alto Networks in the third quarter worth about $228,000. Empower Advisory Group LLC grew its stake in shares of Palo Alto Networks by 70.0% in the third quarter. Empower Advisory Group LLC now owns 2,162 shares of the network technology company’s stock worth $739,000 after purchasing an additional 890 shares during the last quarter. Finally, Future Fund LLC grew its stake in shares of Palo Alto Networks by 7.1% in the third quarter. Future Fund LLC now owns 3,226 shares of the network technology company’s stock worth $1,170,000 after purchasing an additional 213 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks 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 sale, 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 is accessible through this hyperlink. In other news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the sale, the director now owns 31,517 shares of the company’s stock, valued at $10,983,359.33. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 255,252 shares of company stock valued at $89,383,077. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Up 0.7 %

Shares of NASDAQ PANW opened at $401.00 on Wednesday. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $402.50. The firm has a market cap of $130.57 billion, a P/E ratio of 54.90, a PEG ratio of 5.77 and a beta of 1.12. The company has a 50 day moving average of $356.70 and a 200 day moving average of $334.54.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results 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. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PANW shares. Evercore ISI raised their target price on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Susquehanna raised their target price on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a research note on Thursday, September 5th. Robert W. Baird raised their target price on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised their target price on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, The Goldman Sachs Group raised their price objective on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $378.87.

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.