Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Canal Capital Management LLC

Canal Capital Management LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 22,163 shares of the network technology company’s stock after acquiring an additional 69 shares during the period. Palo Alto Networks makes up approximately 1.2% of Canal Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Canal Capital Management LLC’s holdings in Palo Alto Networks were worth $7,575,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks during the first quarter worth $25,000. Sound Income Strategies LLC raised its stake in shares of Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 67 shares during the last quarter. Cape Investment Advisory Inc. lifted its holdings in shares of 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 valued at $31,000 after buying an additional 100 shares during the period. New England Capital Financial Advisors LLC boosted its stake in shares of Palo Alto Networks by 833.3% in the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock worth $32,000 after buying an additional 100 shares during the last quarter. Finally, First PREMIER Bank grew its holdings 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 acquiring an additional 31 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the subject of a number of analyst reports. Susquehanna boosted their price target on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a report on Thursday, September 5th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. BNP Paribas began coverage on shares of Palo Alto Networks in a research report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price target on the stock. TD Cowen lifted their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Citigroup increased their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $376.82.

Palo Alto Networks Trading Up 0.7 %

Palo Alto Networks stock opened at $367.00 on Friday. The company has a 50-day moving average price of $350.84 and a 200 day moving average price of $325.17. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00. The stock has a market cap of $119.50 billion, a P/E ratio of 50.29, a PEG ratio of 5.45 and a beta of 1.13.

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, beating analysts’ consensus estimates 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 return on equity of 26.83% and a net margin of 32.11%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. As a group, analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Insider Transactions 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 owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is currently owned by company 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.