Princeton Global Asset Management LLC Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Princeton Global Asset Management LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, Holdings Channel reports. The firm purchased 98 shares of the network technology company’s stock, valued at approximately $33,000.

Other hedge funds also recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks during the first quarter worth $25,000. Capital Advisors Ltd. LLC increased its position in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 67 shares during the period. Strategic Investment Solutions Inc. IL grew its position in shares of 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 purchasing an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. grew its position in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing 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 0.6 %

Shares of Palo Alto Networks stock opened at $362.64 on Monday. The firm has a market cap of $118.08 billion, a P/E ratio of 50.02, a P/E/G ratio of 5.22 and a beta of 1.12. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $384.00. The business has a 50-day moving average price of $352.69 and a 200 day moving average price of $329.75.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the company earned $0.80 earnings per share. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PANW. The Goldman Sachs Group lifted their price objective on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald raised Palo Alto Networks to a “strong-buy” rating in a research report on Friday. KeyCorp lifted their price objective on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Finally, Morgan Stanley lifted their price objective on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Eleven analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $378.49.

Insider Activity

In other news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the transaction, the director now directly owns 41,517 shares in the company, valued at approximately $14,175,564.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,252 shares of company stock valued at $89,383,077. 3.30% of the stock is currently owned by insiders.

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.