Bristlecone Advisors LLC Purchases Shares of 1,012 Palo Alto Networks, Inc. (NASDAQ:PANW)

Bristlecone Advisors LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,012 shares of the network technology company’s stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PANW. International Assets Investment Management LLC boosted its position in Palo Alto Networks by 34,318.2% in the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after buying an additional 3,249,594 shares during the period. Vanguard Group Inc. raised its holdings in shares of Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after purchasing an additional 1,002,239 shares in the last quarter. Swedbank AB acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at $177,933,000. Altshuler Shaham Ltd raised its holdings in shares of Palo Alto Networks by 444,100.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after purchasing an additional 444,100 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Palo Alto Networks by 8.5% in the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after purchasing an additional 255,060 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 0.5 %

PANW stock opened at $366.44 on Monday. The company has a market cap of $118.65 billion, a P/E ratio of 53.26, a P/E/G ratio of 5.45 and a beta of 1.13. 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 $351.91 and its 200 day moving average price is $326.78.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PANW. BTIG Research raised their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Evercore ISI raised their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. The Goldman Sachs Group lifted their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, TD Cowen lifted their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $376.82.

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the transaction, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 351,452 shares of company stock valued at $118,643,279. Corporate insiders own 3.30% of the company’s stock.

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.