Blake Schutter Theil Wealth Advisors LLC Buys New Shares in Palo Alto Networks, Inc. (NASDAQ:PANW)

Blake Schutter Theil Wealth Advisors LLC purchased a new position 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 (SEC). The institutional investor purchased 2,356 shares of the network technology company’s stock, valued at approximately $805,000.

A number of other large investors have also recently added to or reduced their stakes in the company. M&G PLC raised its holdings in shares of Palo Alto Networks by 37.2% in the 3rd quarter. M&G PLC now owns 9,497 shares of the network technology company’s stock valued at $3,248,000 after purchasing an additional 2,577 shares during the period. Harvest Portfolios Group Inc. bought a new stake in Palo Alto Networks in the third quarter valued at approximately $24,414,000. Radnor Capital Management LLC acquired a new stake in shares of Palo Alto Networks in the third quarter valued at approximately $497,000. Catalina Capital Group LLC boosted its stake in shares of Palo Alto Networks by 10.2% during the 3rd quarter. Catalina Capital Group LLC now owns 1,449 shares of the network technology company’s stock worth $495,000 after acquiring an additional 134 shares during the period. Finally, MinichMacGregor Wealth Management LLC acquired a new position in shares of Palo Alto Networks during the 3rd quarter worth approximately $8,045,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the subject of several research reports. TD Cowen raised their price target on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Bank of America raised 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 note on Wednesday, August 21st. Robert W. Baird upped their price target on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Needham & Company LLC raised their price objective on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $378.49.

Palo Alto Networks Trading Up 5.2 %

NASDAQ:PANW opened at $385.18 on Thursday. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $386.20. The stock has a market capitalization of $125.41 billion, a price-to-earnings ratio of 53.13, a PEG ratio of 5.23 and a beta of 1.12. The firm has a fifty day simple moving average of $353.98 and a two-hundred day simple moving average of $331.32.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 EPS. Equities analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Nir Zuk sold 36,000 shares of the 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 sale, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. This represents a 0.00 % decrease in their ownership of the stock. The sale 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 that occurred on Monday, August 19th. The shares were 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 owns 41,517 shares in the company, valued at $14,175,564.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,252 shares of company stock valued at $89,383,077. 2.50% of the stock is owned by company insiders.

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.