Shulman DeMeo Asset Management LLC Buys New Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Shulman DeMeo Asset Management LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, Holdings Channel reports. The firm bought 657 shares of the network technology company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks in the 1st quarter worth $25,000. Financial Synergies Wealth Advisors Inc. grew its position in Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the last quarter. Sound Income Strategies LLC grew its position in Palo Alto Networks by 352.6% in the 3rd 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. Central Bank & Trust Co. grew its position in Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Finally, Cape Investment Advisory Inc. grew its position in Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

PANW traded up $0.53 during trading on Tuesday, reaching $374.44. The company had a trading volume of 2,730,521 shares, compared to its average volume of 4,061,453. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $380.84. The business’s fifty day moving average price is $343.80 and its 200 day moving average price is $320.63. The company has a market cap of $121.24 billion, a P/E ratio of 54.06, a PEG ratio of 5.26 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 for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analyst Ratings Changes

PANW has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and set a $375.00 price objective on shares of Palo Alto Networks in a report on Friday, August 16th. Royal Bank of Canada raised their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Needham & Company LLC raised their price objective on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. BNP Paribas initiated coverage on shares of Palo Alto Networks in a report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price objective for the company. Finally, Robert W. Baird raised their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $372.28.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is currently owned by corporate insiders.

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.