Valley Wealth Managers Inc. Takes $661,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Valley Wealth Managers Inc. bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,934 shares of the network technology company’s stock, valued at approximately $661,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after purchasing an additional 3,249,594 shares during the last quarter. Swedbank AB purchased a new position in Palo Alto Networks during the 1st quarter worth approximately $177,933,000. Altshuler Shaham Ltd lifted its stake in Palo Alto Networks by 444,100.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after acquiring an additional 444,100 shares during the period. Congress Asset Management Co. purchased a new stake in shares of Palo Alto Networks in the 3rd quarter valued at $94,875,000. Finally, Legal & General Group Plc increased its stake in shares of Palo Alto Networks by 8.5% in the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after acquiring an additional 255,060 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated Thursday, October 10th. The shares were 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 owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 11.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the sale, the director now directly owns 31,517 shares in the company, valued at $10,983,359.33. This trade represents a 24.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,252 shares of company stock worth $89,383,077 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Down 1.9 %

Shares of PANW opened at $387.00 on Friday. The firm has a 50-day moving average price of $359.86 and a 200 day moving average price of $336.07. Palo Alto Networks, Inc. has a 12-month low of $234.15 and a 12-month high of $408.53. The firm has a market capitalization of $126.01 billion, a P/E ratio of 53.38, a P/E/G ratio of 5.84 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results 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 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 for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 EPS. Equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the subject of a number of research reports. UBS Group boosted their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Rosenblatt Securities upped their target price on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Barclays lifted their price target on Palo Alto Networks from $410.00 to $425.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Scotiabank upped their price objective on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $381.56.

Palo Alto Networks Company 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.