Mogy Joel R Investment Counsel Inc. Has $51.90 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mogy Joel R Investment Counsel Inc. increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 151,843 shares of the network technology company’s stock after buying an additional 1,977 shares during the quarter. Palo Alto Networks accounts for about 3.2% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 10th biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Palo Alto Networks were worth $51,900,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kathmere Capital Management LLC raised its position in Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after purchasing an additional 30 shares during the last quarter. FLC Capital Advisors raised its position in Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after purchasing an additional 30 shares during the last quarter. Cascade Investment Group Inc. raised its position in Palo Alto Networks by 2.9% in the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after purchasing an additional 31 shares during the last quarter. Herbst Group LLC raised its position in Palo Alto Networks by 0.3% in the third quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock valued at $3,313,000 after purchasing an additional 31 shares during the last quarter. Finally, First PREMIER Bank increased its stake in shares of Palo Alto Networks by 48.4% in the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after buying an additional 31 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PANW. Rosenblatt Securities increased their price target on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Oppenheimer increased their price target on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. UBS Group increased their price target on Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Robert W. Baird increased their price target 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. Finally, Northland Securities raised their target price on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.79.

Palo Alto Networks Stock Down 0.4 %

Shares of PANW stock opened at $374.83 on Friday. The business has a 50-day moving average price of $348.67 and a two-hundred day moving average price of $322.67. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $380.84. The firm has a market cap of $122.04 billion, a P/E ratio of 51.70, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal 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 stock was sold at an average price of $323.41, for a total transaction 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 $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 directly owns 1,187,567 shares in the company, valued at $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock valued at $118,643,279 over the last 90 days. Insiders own 3.30% of the company’s stock.

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.