MWA Asset Management Has $1.34 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

MWA Asset Management trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,929 shares of the network technology company’s stock after selling 130 shares during the quarter. MWA Asset Management’s holdings in Palo Alto Networks were worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Kathmere Capital Management LLC boosted its holdings in shares of Palo Alto Networks by 3.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after acquiring an additional 30 shares in the last quarter. FLC Capital Advisors lifted its stake in Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after buying an additional 30 shares during the period. Cromwell Holdings LLC boosted its stake in Palo Alto Networks by 3.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after acquiring an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Palo Alto Networks by 9.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after buying an additional 30 shares during the period. Finally, Geneva Partners LLC increased its holdings in shares of Palo Alto Networks by 0.3% in the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after acquiring an additional 30 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PANW. Morgan Stanley boosted their price target on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a report on Friday, October 11th. OTR Global reiterated a “negative” rating on shares of Palo Alto Networks in a research note on Thursday, November 7th. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a research report on Monday, November 4th. Cantor Fitzgerald upgraded Palo Alto Networks to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Barclays boosted their price target on Palo Alto Networks from $410.00 to $425.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $391.92.

Insider Buying and Selling

In other news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 11.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the transaction, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. This trade represents a 24.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,252 shares of company stock worth $89,041,637 over the last 90 days. 2.50% of the stock is owned by insiders.

Palo Alto Networks Price Performance

PANW opened at $388.06 on Wednesday. The company’s 50 day simple moving average is $361.53 and its two-hundred day simple moving average is $338.02. The firm has a market capitalization of $126.35 billion, a price-to-earnings ratio of 53.53, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a 1-year low of $249.56 and a 1-year high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal 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.