Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,524 shares of the network technology company’s stock after buying an additional 24,030 shares during the period. Palo Alto Networks accounts for about 2.2% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 13th biggest holding. Quintet Private Bank Europe S.A.’s holdings in Palo Alto Networks were worth $38,803,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital Advisors Ltd. LLC raised its position in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares during the last quarter. Sound Income Strategies LLC increased its position in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its position in Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks during the first quarter worth about $25,000. Finally, First PREMIER Bank increased its position in Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after purchasing an additional 31 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.8 %

Shares of Palo Alto Networks stock traded down $3.01 during trading on Monday, reaching $359.63. The company’s stock had a trading volume of 283,525 shares, compared to its average volume of 3,920,595. The company has a 50-day moving average price of $352.69 and a two-hundred day moving average price of $329.75. The firm has a market cap of $117.10 billion, a PE ratio of 49.60, a P/E/G ratio of 5.22 and a beta of 1.12. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business 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 company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. On average, analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PANW. BMO Capital Markets raised their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. BTIG Research raised their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Citigroup lifted their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, KeyCorp lifted their price target on shares of Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $378.49.

Insider Activity

In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now directly 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,252 shares of company stock valued at $89,383,077 in the last ninety days. 3.30% of the stock is currently owned by company insiders.

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.