Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,852 shares of the network technology company’s stock after acquiring an additional 547 shares during the quarter. Palo Alto Networks makes up 1.2% of Ipswich Investment Management Co. Inc.’s portfolio, making the stock its 27th biggest position. Ipswich Investment Management Co. Inc.’s holdings in Palo Alto Networks were worth $5,076,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks in the first quarter worth about $25,000. Capital Advisors Ltd. LLC grew its position in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of 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 valued at $29,000 after acquiring an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its position in shares of Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. lifted its stake in Palo Alto Networks by 1,111.1% during the first 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. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PANW. 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. 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 report on Tuesday, August 20th. BNP Paribas initiated coverage on Palo Alto Networks in a report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 target price for the company. DA Davidson raised their price target on Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Susquehanna increased their target price on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $381.56.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $387.00 on Friday. The firm has a market cap of $126.01 billion, a P/E ratio of 53.38, a PEG ratio of 5.84 and a beta of 1.12. Palo Alto Networks, Inc. has a fifty-two week low of $234.15 and a fifty-two week high of $408.53. The stock’s 50-day moving average is $359.86 and its two-hundred day moving average is $336.07.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping 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 firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 11.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,252 shares of company stock valued at $89,383,077 over the last three months. 2.50% of the stock is currently owned by 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.