Highline Wealth Partners LLC Takes $4.91 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Highline Wealth Partners LLC bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,375 shares of the network technology company’s stock, valued at approximately $4,913,000. Palo Alto Networks makes up about 1.6% of Highline Wealth Partners LLC’s investment portfolio, making the stock its 17th largest holding.

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

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction 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 owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,452 shares of company stock valued at $118,643,279 over the last quarter. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 0.3 %

NASDAQ:PANW opened at $366.52 on Wednesday. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $384.00. The company has a market capitalization of $119.34 billion, a P/E ratio of 50.40, a price-to-earnings-growth ratio of 5.31 and a beta of 1.13. The firm has a 50-day moving average price of $352.24 and a two-hundred day moving average price of $327.94.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data 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. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on PANW shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a report on Monday, August 19th. BTIG Research boosted their price objective on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada raised their target price on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their price target on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $350.00 to $325.00 in a research report on Thursday, July 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $376.82.

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.