Crew Capital Management Ltd. Invests $857,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Crew Capital Management Ltd. purchased a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,507 shares of the network technology company’s stock, valued at approximately $857,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bellecapital International Ltd. acquired a new stake in shares of Palo Alto Networks in the 3rd quarter worth approximately $206,000. Koss Olinger Consulting LLC acquired a new stake in shares of Palo Alto Networks in the 3rd quarter worth approximately $202,000. Calton & Associates Inc. grew its holdings in Palo Alto Networks by 2,442.4% during the 3rd quarter. Calton & Associates Inc. now owns 17,466 shares of the network technology company’s stock valued at $5,970,000 after buying an additional 16,779 shares during the last quarter. McClarren Financial Advisors Inc. grew its holdings in Palo Alto Networks by 31.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 446 shares of the network technology company’s stock valued at $152,000 after buying an additional 107 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Palo Alto Networks by 7.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 245,439 shares of the network technology company’s stock valued at $83,891,000 after buying an additional 17,008 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PANW. Northland Securities increased their target price on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their target price on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Oppenheimer increased their price target on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. increased their price target on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, KeyCorp increased their price target on Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a research note on Friday. Eleven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $375.79.

Palo Alto Networks Price Performance

NASDAQ:PANW traded up $2.74 during mid-day trading on Monday, reaching $377.57. The stock had a trading volume of 913,498 shares, compared to its average volume of 4,020,476. The company has a market capitalization of $122.26 billion, a price-to-earnings ratio of 54.48, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. The stock’s 50 day simple moving average is $348.67 and its two-hundred day simple moving average is $323.39.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly 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 return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at $47,055,533.37. 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 link. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock worth $118,643,279 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks 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.