Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Position Raised by Aljian Capital Management LLC

Aljian Capital Management LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 118.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,184 shares of the network technology company's stock after acquiring an additional 4,431 shares during the quarter. Palo Alto Networks accounts for about 0.7% of Aljian Capital Management LLC's investment portfolio, making the stock its 22nd largest position. Aljian Capital Management LLC's holdings in Palo Alto Networks were worth $2,797,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PANW. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the 1st quarter valued at $25,000. Capital Advisors Ltd. LLC lifted its holdings in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock worth $26,000 after buying an additional 41 shares during the period. Sound Income Strategies LLC raised its position 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 purchasing an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its position in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company's stock valued at $29,000 after buying an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. boosted its holdings 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 buying an additional 100 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Susquehanna raised their price objective on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a "positive" rating in a research report on Thursday, September 5th. Stifel Nicolaus raised their price objective on Palo Alto Networks from $385.00 to $440.00 and gave the stock a "buy" rating in a report on Thursday. BNP Paribas assumed coverage on Palo Alto Networks in a report on Tuesday, October 8th. They issued an "outperform" rating and a $410.00 price target for the company. Wells Fargo & Company boosted their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an "overweight" rating in a research note on Tuesday, August 20th. Finally, Scotiabank lifted their target price on Palo Alto Networks from $385.00 to $400.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $390.39.

Palo Alto Networks Trading Down 0.0 %

PANW traded down $0.17 on Monday, hitting $386.83. The company had a trading volume of 2,232,411 shares, compared to its average volume of 3,842,728. The firm has a market cap of $125.95 billion, a P/E ratio of 53.36, a PEG ratio of 5.61 and a beta of 1.12. The company's fifty day moving average price is $360.72 and its 200 day moving average price is $337.38. Palo Alto Networks, Inc. has a 1 year low of $249.56 and a 1 year high of $408.53.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced 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 company had revenue of $2.19 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. On average, analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares of the company's stock, valued at approximately $54,854,924.82. This trade represents a 27.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the sale, the director now directly owns 31,517 shares of the company's stock, valued at approximately $10,983,359.33. This represents a 24.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,252 shares of company stock worth $89,041,637. Corporate insiders own 2.50% of the company's stock.

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.