Catalyst Capital Advisors LLC Purchases 91 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Catalyst Capital Advisors LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 29.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 397 shares of the network technology company’s stock after purchasing an additional 91 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Palo Alto Networks were worth $136,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Alpha Cubed Investments LLC raised its position in Palo Alto Networks by 16.4% in 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 last quarter. Wealthspire Advisors LLC lifted its position in shares of Palo Alto Networks by 1.7% in the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock worth $1,244,000 after purchasing an additional 75 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Palo Alto Networks by 3.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock valued at $67,232,000 after purchasing an additional 7,291 shares during the last quarter. Parsons Capital Management Inc. RI increased its position in shares of Palo Alto Networks by 4.5% during the second quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock worth $914,000 after buying an additional 116 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in shares of Palo Alto Networks by 38.6% during the first quarter. Kingsview Wealth Management LLC now owns 14,229 shares of the network technology company’s stock worth $4,043,000 after buying an additional 3,965 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now directly owns 31,517 shares in the company, valued at approximately $10,983,359.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This represents a 0.00 % 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. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PANW. UBS Group upped their price target on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC upped their target price on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. TD Cowen lifted their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. The Goldman Sachs Group increased 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. Finally, Cantor Fitzgerald upgraded shares of Palo Alto Networks to a “strong-buy” rating in a research note on Friday, November 1st. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $378.49.

Palo Alto Networks Stock Up 1.4 %

Palo Alto Networks stock opened at $366.29 on Wednesday. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00. The company’s 50 day moving average price is $353.29 and its two-hundred day moving average price is $330.94. The stock has a market cap of $119.26 billion, a P/E ratio of 50.52, a P/E/G ratio of 5.26 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly 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. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business posted $0.80 EPS. Palo Alto Networks’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 3.57 EPS for the current 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.