Princeton Global Asset Management LLC Takes $33,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Princeton Global Asset Management LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 98 shares of the network technology company’s stock, valued at approximately $33,000.

Several other large investors have also modified their holdings of PANW. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks during the 1st quarter worth about $25,000. Capital Advisors Ltd. LLC lifted its stake in Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. lifted its stake in Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

PANW opened at $362.64 on Monday. The business has a 50 day simple moving average of $352.69 and a 200-day simple moving average of $329.75. The stock has a market capitalization of $118.08 billion, a P/E ratio of 50.02, a P/E/G ratio of 5.22 and a beta of 1.12. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during 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%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. Research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Redburn Atlantic lowered 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 note on Thursday, July 18th. Barclays upped their price target on Palo Alto Networks from $370.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Robert W. Baird upped their price target on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Rosenblatt Securities upped their price target on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, The Goldman Sachs Group upped their price target on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Eleven investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $378.49.

Insider Activity

In related news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value 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 $14,175,564.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock valued at $89,383,077 in the last three months. 3.30% of the stock is currently 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.