Claro Advisors LLC Buys 909 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Claro Advisors LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 22.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,913 shares of the network technology company’s stock after buying an additional 909 shares during the period. Claro Advisors LLC’s holdings in Palo Alto Networks were worth $1,679,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PANW. Pathway Financial Advisers LLC purchased a new stake in Palo Alto Networks in the first quarter worth approximately $25,000. Capital Advisors Ltd. LLC boosted its stake in shares of Palo Alto Networks by 113.9% in 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 in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Palo Alto Networks by 352.6% during the 3rd 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 last quarter. Strategic Investment Solutions Inc. IL raised its position in Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. lifted its stake in 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 worth $31,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the sale, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the 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 transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 11.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock valued at $89,383,077 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald raised Palo Alto Networks to a “strong-buy” rating in a research note on Friday, November 1st. TD Cowen lifted their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada increased their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. BMO Capital Markets lifted their target price on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Finally, Susquehanna increased their price target on shares of Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $384.76.

Palo Alto Networks Stock Down 1.9 %

Palo Alto Networks stock opened at $387.00 on Friday. The business has a 50-day simple moving average of $359.86 and a two-hundred day simple moving average of $336.39. Palo Alto Networks, Inc. has a 52-week low of $234.15 and a 52-week high of $408.53. The company has a market cap of $126.01 billion, a P/E ratio of 53.38, a P/E/G ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last announced its 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. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. Research analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

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.