Evermay Wealth Management LLC Acquires 717 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Evermay Wealth Management LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 41.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,436 shares of the network technology company’s stock after purchasing an additional 717 shares during the quarter. Evermay Wealth Management LLC’s holdings in Palo Alto Networks were worth $833,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Alpha Cubed Investments LLC grew its stake in shares of Palo Alto Networks by 16.4% in the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after acquiring an additional 32,626 shares during the last quarter. Jennison Associates LLC boosted its position in Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after purchasing an additional 198,078 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in Palo Alto Networks by 1.7% in the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock worth $1,244,000 after acquiring an additional 75 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Palo Alto Networks by 3.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock worth $67,232,000 after acquiring an additional 7,291 shares during the period. Finally, Parsons Capital Management Inc. RI boosted its position in shares of Palo Alto Networks by 4.5% in the second quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock worth $914,000 after purchasing an additional 116 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PANW. Wedbush reissued an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. Sanford C. Bernstein raised their target price on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research note on Monday, August 19th. Barclays boosted their price objective on Palo Alto Networks from $370.00 to $410.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, BTIG Research boosted their price target on Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $376.82.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the sale, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, 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 completion of the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the transaction, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock worth $118,643,279 over the last three months. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Up 0.1 %

Shares of NASDAQ:PANW traded up $0.34 during trading on Wednesday, reaching $365.73. The stock had a trading volume of 235,770 shares, compared to its average volume of 3,945,765. The stock has a fifty day simple moving average of $352.24 and a two-hundred day simple moving average of $327.94. The firm has a market capitalization of $119.08 billion, a price-to-earnings ratio of 50.30, a P/E/G ratio of 5.31 and a beta of 1.13. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business 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 quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. On average, analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current 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.