FLC Capital Advisors Purchases 30 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

FLC Capital Advisors grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,035 shares of the network technology company’s stock after buying an additional 30 shares during the period. FLC Capital Advisors’ holdings in Palo Alto Networks were worth $1,379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its stake in shares of Palo Alto Networks by 7.2% in the 4th quarter. Fisher Asset Management LLC now owns 1,806 shares of the network technology company’s stock valued at $533,000 after purchasing an additional 121 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Palo Alto Networks in the fourth quarter valued at approximately $60,000. Alaska Permanent Fund Corp grew its holdings in Palo Alto Networks by 403.5% during the 1st quarter. Alaska Permanent Fund Corp now owns 720 shares of the network technology company’s stock worth $205,000 after acquiring an additional 577 shares during the period. Fulton Bank N.A. lifted its stake in shares of Palo Alto Networks by 2.6% in the 1st quarter. Fulton Bank N.A. now owns 3,283 shares of the network technology company’s stock valued at $933,000 after purchasing an additional 82 shares during the period. Finally, Czech National Bank boosted its position in shares of Palo Alto Networks by 1.9% in the 1st quarter. Czech National Bank now owns 55,477 shares of the network technology company’s stock worth $15,763,000 after purchasing an additional 1,031 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the transaction, the executive vice president now directly owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the sale, the executive vice president now directly owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. 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 accessible through this link. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,452 shares of company stock worth $118,643,279 in the last 90 days. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

PANW stock opened at $373.23 on Thursday. The stock has a market cap of $120.85 billion, a price-to-earnings ratio of 54.25, a price-to-earnings-growth ratio of 5.26 and a beta of 1.13. The company has a fifty day moving average price of $346.63 and a two-hundred day moving average price of $321.63. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. Research analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Cowen increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Sanford C. Bernstein lifted their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Robert W. Baird boosted their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. UBS Group increased their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Redburn Atlantic lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their price target for the company from $350.00 to $325.00 in a report on Thursday, July 18th. Eleven equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $372.28.

About Palo Alto Networks

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.