JFS Wealth Advisors LLC Grows Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

JFS Wealth Advisors LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 613.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 257 shares of the network technology company’s stock after acquiring an additional 221 shares during the period. JFS Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $88,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in Palo Alto Networks by 37.8% during the 1st quarter. Van ECK Associates Corp now owns 16,239 shares of the network technology company’s stock valued at $4,614,000 after buying an additional 4,458 shares in the last quarter. Norden Group LLC grew its holdings in Palo Alto Networks by 65.6% during the 1st quarter. Norden Group LLC now owns 1,538 shares of the network technology company’s stock valued at $437,000 after buying an additional 609 shares in the last quarter. Prosperity Consulting Group LLC purchased a new position in Palo Alto Networks during the 1st quarter valued at approximately $246,000. PDS Planning Inc grew its holdings in Palo Alto Networks by 11.9% during the 1st quarter. PDS Planning Inc now owns 910 shares of the network technology company’s stock valued at $259,000 after buying an additional 97 shares in the last quarter. Finally, Harbor Advisors LLC grew its holdings in Palo Alto Networks by 25.0% during the 1st quarter. Harbor Advisors LLC now owns 6,250 shares of the network technology company’s stock valued at $1,776,000 after buying an additional 1,250 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity

In related news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at $47,055,533.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 315,252 shares of company stock worth $107,138,877. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Up 0.6 %

Shares of NASDAQ:PANW opened at $362.64 on Friday. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00. The business’s fifty day simple moving average is $352.69 and its 200-day simple moving average is $329.01. The company has a market capitalization of $118.08 billion, a PE ratio of 50.02, a P/E/G ratio of 5.21 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the business posted $0.80 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. Research analysts predict that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PANW. The Goldman Sachs Group raised their price target on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Bank of America raised their price objective on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Robert W. Baird raised their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, Redburn Atlantic lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $350.00 to $325.00 in a research note on Thursday, July 18th. Eleven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $378.49.

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.