Evermay Wealth Management LLC Has $833,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Evermay Wealth Management LLC raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 41.7% in the third quarter, Holdings Channel reports. The institutional investor owned 2,436 shares of the network technology company’s stock after buying an additional 717 shares during the quarter. Evermay Wealth Management LLC’s holdings in Palo Alto Networks were worth $833,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks in the 1st quarter valued at about $25,000. Capital Advisors Ltd. LLC increased its holdings in Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares during the period. Sound Income Strategies LLC increased its stake in shares of Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 67 shares during the period. Strategic Investment Solutions Inc. IL boosted its holdings in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its position in shares of Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.1 %

PANW stock traded up $0.34 during mid-day trading on Wednesday, reaching $365.73. The company had a trading volume of 235,770 shares, compared to its average volume of 3,945,765. The stock’s 50-day simple moving average is $352.24 and its two-hundred day simple moving average is $327.94. The stock has a market capitalization of $119.08 billion, a P/E ratio of 50.30, a P/E/G ratio of 5.31 and a beta of 1.13. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The business 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 business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $0.80 earnings per share. On average, research analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Analyst Ratings Changes

PANW has been the subject of several research reports. Northland Securities increased their price target on shares of 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. The Goldman Sachs Group increased their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Susquehanna boosted their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research note on Thursday, September 5th. Finally, Stifel Nicolaus increased their price objective on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $376.82.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the firm’s 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 sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. 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. 3.30% of the stock is currently owned by company insiders.

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.