Financial Management Professionals Inc. Purchases 34 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Financial Management Professionals Inc. grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 694 shares of the network technology company’s stock after acquiring an additional 34 shares during the quarter. Financial Management Professionals Inc.’s holdings in Palo Alto Networks were worth $237,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PANW. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks during the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC raised its stake in shares of 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 worth $26,000 after purchasing an additional 41 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Palo Alto Networks by 352.6% in the 3rd 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 last quarter. Strategic Investment Solutions Inc. IL grew its stake 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 buying an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its holdings in 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 worth $31,000 after buying an additional 100 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on PANW shares. Robert W. Baird increased their price target on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Wedbush reiterated an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a research note on Friday, August 16th. Wells Fargo & Company boosted their price target on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. BTIG Research raised their price objective on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, DA Davidson boosted their target price on Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $376.82.

Palo Alto Networks Stock Up 0.5 %

NASDAQ PANW opened at $366.44 on Friday. The company has a market cap of $119.31 billion, a price-to-earnings ratio of 50.54, a price-to-earnings-growth ratio of 5.45 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $384.00. The business’s fifty day moving average is $351.91 and its 200 day moving average is $326.46.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating 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 firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm posted $0.80 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction on 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 approximately $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 approximately $47,055,533.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,452 shares of company stock worth $118,643,279 in 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.