Arthur M. Cohen & Associates LLC Purchases 1,154 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Arthur M. Cohen & Associates LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 23.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,056 shares of the network technology company’s stock after purchasing an additional 1,154 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in Palo Alto Networks were worth $1,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks in the first quarter worth approximately $25,000. Capital Advisors Ltd. LLC raised its stake in shares of Palo Alto Networks by 113.9% in the third 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 during the last quarter. Sound Income Strategies LLC increased its position in shares of Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its position in 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 worth $29,000 after purchasing an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. grew its stake in Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PANW. Scotiabank increased their price target on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group lifted their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Redburn Atlantic downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $350.00 to $325.00 in a research report on Thursday, July 18th. Morgan Stanley raised their target price on Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Evercore ISI raised their target price on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $378.49.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 255,252 shares of company stock worth $89,383,077. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Trading Up 1.1 %

Shares of NASDAQ PANW opened at $365.17 on Tuesday. The stock has a market cap of $118.90 billion, a price-to-earnings ratio of 49.81, a P/E/G ratio of 5.26 and a beta of 1.12. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. The stock’s 50-day moving average is $352.97 and its 200 day moving average is $330.32.

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 (EPS) for the quarter, topping 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 business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $0.80 EPS. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

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.