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

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

Other large investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in shares of Palo Alto Networks during the 3rd quarter valued at $1,156,000. Alpha Cubed Investments LLC raised its holdings in shares of Palo Alto Networks by 16.4% during the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after purchasing an additional 32,626 shares during the period. Handelsbanken Fonder AB boosted its position in shares of 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 purchasing an additional 7,291 shares in the last quarter. Harvest Portfolios Group Inc. acquired a new stake in shares of Palo Alto Networks in the 3rd quarter valued at about $24,414,000. Finally, Parsons Capital Management Inc. RI increased its position in Palo Alto Networks by 4.5% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock valued at $914,000 after buying an additional 116 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on PANW shares. DA Davidson raised their price objective on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley boosted their price target on shares of Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Sanford C. Bernstein upped their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. UBS Group lifted their price objective on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Bank of America boosted their target price on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $384.76.

Palo Alto Networks Trading Down 1.9 %

Shares of PANW stock opened at $387.00 on Friday. The firm’s 50 day moving average is $359.86 and its 200 day moving average is $336.39. The stock has a market capitalization of $126.01 billion, a P/E ratio of 53.38, a PEG ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last posted its 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. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. On average, equities analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. This represents a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock worth $89,383,077 in the last quarter. 2.50% of the stock is owned by company insiders.

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.