Crew Capital Management Ltd. Buys New Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Crew Capital Management Ltd. bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,507 shares of the network technology company’s stock, valued at approximately $857,000.

Several other hedge funds also recently added to or reduced their stakes in PANW. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks in the first quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. increased its holdings in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the period. Sound Income Strategies LLC increased its holdings in shares of Palo Alto Networks by 352.6% in the third 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 period. Cape Investment Advisory Inc. increased its holdings in shares of 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 valued at $31,000 after purchasing an additional 100 shares during the period. Finally, New England Capital Financial Advisors LLC increased its holdings in shares of Palo Alto Networks by 833.3% in the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 100 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BMO Capital Markets increased their price objective on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a research note on Monday, August 19th. Needham & Company LLC upped their target price on Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Redburn Atlantic downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $350.00 to $325.00 in a research note on Thursday, July 18th. Finally, TD Cowen increased their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Eleven 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $375.79.

Insider Activity

In other news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s 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 $8,014,746.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the company’s 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 sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 351,452 shares of company stock valued at $118,643,279. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded up $2.74 on Monday, hitting $377.57. 913,498 shares of the company’s stock were exchanged, compared to its average volume of 4,020,476. The firm’s 50-day moving average is $348.67 and its 200 day moving average is $323.39. The company has a market capitalization of $122.26 billion, a PE ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year 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, 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 during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm posted $0.80 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that Palo Alto Networks, Inc. will post 3.56 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.