Atomi Financial Group Inc. Raises Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Atomi Financial Group Inc. grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 99.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,343 shares of the network technology company's stock after purchasing an additional 2,659 shares during the period. Atomi Financial Group Inc.'s holdings in Palo Alto Networks were worth $1,826,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company's stock worth $8,118,190,000 after buying an additional 1,002,239 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Palo Alto Networks by 8.5% in the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company's stock valued at $1,099,564,000 after acquiring an additional 255,060 shares in the last quarter. Jennison Associates LLC boosted its holdings in Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company's stock valued at $799,792,000 after purchasing an additional 198,078 shares during the period. Canada Pension Plan Investment Board grew its stake in Palo Alto Networks by 5.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company's stock worth $757,321,000 after purchasing an additional 114,742 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in Palo Alto Networks by 8.0% during the 2nd quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company's stock worth $339,183,000 after purchasing an additional 73,922 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Stock Performance

PANW stock traded up $7.74 during trading on Wednesday, hitting $362.87. The stock had a trading volume of 2,458,441 shares, compared to its average volume of 4,099,889. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $380.84. The stock has a market cap of $117.50 billion, a price-to-earnings ratio of 52.43, a price-to-earnings-growth ratio of 4.82 and a beta of 1.13. The company's 50 day moving average price is $339.01 and its two-hundred day moving average price is $318.22.

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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business 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 firm posted $0.80 earnings per share. The company's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Palo Alto Networks from $340.00 to $365.00 and gave the stock an "overweight" rating in a research report on Thursday, August 15th. UBS Group boosted their price target 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. Robert W. Baird raised their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an "outperform" rating in a report on Friday, August 16th. Barclays upped their price target on Palo Alto Networks from $350.00 to $370.00 and gave the company an "overweight" rating in a report on Tuesday, August 20th. Finally, Bank of America raised their price objective on Palo Alto Networks from $370.00 to $400.00 and gave the stock a "neutral" rating in a report on Wednesday, August 21st. 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $371.50.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares of the company's stock, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business'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 owns 1,187,567 shares of the company's stock, valued at approximately $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the firm's 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 completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,866 shares of company stock worth $88,620,447 in the last 90 days. 3.30% of the stock is owned by company insiders.

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.