Livforsakringsbolaget Skandia Omsesidigt Grows Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 121.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,389 shares of the network technology company’s stock after buying an additional 2,407 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Palo Alto Networks were worth $1,500,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks in the 1st quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. increased its position in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares in the last quarter. Central Bank & Trust Co. raised its stake in shares of Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares during the last quarter. Cape Investment Advisory Inc. boosted 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 buying an additional 100 shares in the last quarter. Finally, New England Capital Financial Advisors LLC grew its stake in Palo Alto Networks by 833.3% in the 1st quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PANW shares. Susquehanna lifted their target price on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a research report on Thursday, September 5th. BMO Capital Markets upped their target price on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 price target on shares of Palo Alto Networks in a research report on Monday, August 19th. Sanford C. Bernstein upped their price objective on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, Northland Securities lifted their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $372.28.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 200 shares of the business’s 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 of the company’s stock, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the company’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 sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,866 shares of company stock worth $88,620,447. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $373.20 on Friday. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $380.84. The stock has a market cap of $120.84 billion, a P/E ratio of 54.24, a PEG ratio of 5.26 and a beta of 1.13. The firm has a 50-day moving average of $342.20 and a two-hundred day moving average of $319.73.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

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.