Asio Capital LLC Acquires 225 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Asio Capital LLC raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 25,752 shares of the network technology company’s stock after acquiring an additional 225 shares during the period. Palo Alto Networks makes up approximately 1.7% of Asio Capital LLC’s holdings, making the stock its 16th biggest position. Asio Capital LLC’s holdings in Palo Alto Networks were worth $8,802,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. PCA Investment Advisory Services Inc. raised its stake in Palo Alto Networks by 4.1% during the 4th quarter. PCA Investment Advisory Services Inc. now owns 2,519 shares of the network technology company’s stock valued at $743,000 after buying an additional 100 shares during the last quarter. Secured Retirement Advisors LLC purchased a new position in Palo Alto Networks in the fourth quarter worth about $1,868,000. Voisard Asset Management Group Inc. bought a new stake in shares of Palo Alto Networks during the 4th quarter valued at about $267,000. Clarity Capital Partners LLC purchased a new stake in shares of Palo Alto Networks during the 4th quarter valued at about $303,000. Finally, GLOBALT Investments LLC GA bought a new position in shares of Palo Alto Networks in the 4th quarter worth approximately $2,689,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was 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 owns 31,517 shares of the company’s stock, valued at $10,983,359.33. 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 available through the SEC website. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction dated 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $8,014,746.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,866 shares of company stock worth $88,620,447 in the last ninety days. 3.30% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $373.20 on Friday. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $380.84. The stock has a market cap of $120.84 billion, a P/E ratio of 54.24, a P/E/G ratio of 5.26 and a beta of 1.13. The stock’s 50 day simple moving average is $342.20 and its 200-day simple moving average is $319.50.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the business earned $0.80 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PANW. Citigroup boosted their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a report on Monday, August 19th. Scotiabank boosted their price target on Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft raised their price objective on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, 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. Eleven research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $372.28.

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.