GAMMA Investing LLC Grows Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

GAMMA Investing LLC lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 44.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,592 shares of the network technology company's stock after purchasing an additional 1,732 shares during the period. GAMMA Investing LLC's holdings in Palo Alto Networks were worth $1,911,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Sunbelt Securities Inc. increased its holdings in shares of Palo Alto Networks by 91.0% in the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company's stock valued at $478,000 after purchasing an additional 802 shares during the last quarter. Jennison Associates LLC raised its holdings in Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company's stock valued at $799,792,000 after acquiring an additional 198,078 shares during the period. Brookstone Capital Management lifted its position in Palo Alto Networks by 48.4% during the first quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company's stock worth $7,502,000 after acquiring an additional 8,611 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Palo Alto Networks by 1.7% during the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company's stock worth $1,244,000 after acquiring an additional 75 shares during the period. Finally, Connectus Wealth LLC grew its position in shares of Palo Alto Networks by 22.8% in the fourth quarter. Connectus Wealth LLC now owns 43,813 shares of the network technology company's stock valued at $12,920,000 after purchasing an additional 8,132 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PANW has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Palo Alto Networks from $330.00 to $395.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. KeyCorp raised their price target on shares of Palo Alto Networks from $380.00 to $400.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Northland Securities boosted their price objective on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a "market perform" rating in a report on Tuesday, August 20th. Sanford C. Bernstein increased their target price on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada boosted their price target on Palo Alto Networks from $390.00 to $410.00 and gave the company an "outperform" rating in a research note on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $369.26.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares in the company, valued at $47,055,533.37. 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 at this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the company's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the sale, the executive vice president now directly owns 1,187,567 shares in the company, valued at $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 269,866 shares of company stock worth $88,620,447 in the last ninety days. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Trading Down 1.3 %

PANW stock traded down $4.42 during mid-day trading on Monday, reaching $337.94. The company's stock had a trading volume of 2,300,139 shares, compared to its average volume of 4,112,439. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $380.84. The business's 50 day moving average price is $337.94 and its 200 day moving average price is $317.39. The company has a market cap of $110.03 billion, a price-to-earnings ratio of 49.08, a price-to-earnings-growth ratio of 4.82 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $2.16 billion. During the same period in the previous year, the firm earned $0.80 EPS. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

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.