Valley Wealth Managers Inc. Makes New $661,000 Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Valley Wealth Managers Inc. bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,934 shares of the network technology company's stock, valued at approximately $661,000.

Several other institutional investors have also recently made changes to their positions in PANW. Kathmere Capital Management LLC lifted its stake in shares of Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company's stock valued at $312,000 after buying an additional 30 shares in the last quarter. FLC Capital Advisors lifted its position in shares of Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company's stock valued at $1,379,000 after acquiring an additional 30 shares in the last quarter. Cromwell Holdings LLC boosted its stake in shares of Palo Alto Networks by 3.0% in the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company's stock worth $357,000 after acquiring an additional 30 shares during the period. Rosenberg Matthew Hamilton grew its position in shares of Palo Alto Networks by 9.4% during the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company's stock worth $119,000 after purchasing an additional 30 shares in the last quarter. Finally, Geneva Partners LLC raised its stake in Palo Alto Networks by 0.3% during the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company's stock valued at $3,741,000 after purchasing an additional 30 shares during the period. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Trading Down 1.9 %

Shares of Palo Alto Networks stock traded down $7.39 during trading on Friday, hitting $387.00. 2,204,087 shares of the stock traded hands, compared to its average volume of 3,849,976. Palo Alto Networks, Inc. has a 52-week low of $234.15 and a 52-week high of $408.53. The stock's fifty day simple moving average is $359.86 and its 200 day simple moving average is $336.07. The firm has a market cap of $126.01 billion, a P/E ratio of 53.38, a price-to-earnings-growth ratio of 5.84 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $0.80 EPS. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insider Activity

In related news, EVP Nir Zuk sold 36,000 shares of the company'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 transaction, the executive vice president now directly owns 1,115,567 shares of the company's stock, valued at $370,926,027.50. This represents a 3.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,252 shares of company stock worth $89,383,077. 2.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an "overweight" rating in a research report on Tuesday, August 20th. BNP Paribas began coverage on shares of Palo Alto Networks in a report on Tuesday, October 8th. They issued an "outperform" rating and a $410.00 price target on the stock. Stifel Nicolaus increased their price objective on shares of Palo Alto Networks from $385.00 to $440.00 and gave the company a "buy" rating in a report on Thursday. TD Cowen lifted their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Finally, Piper Sandler boosted their target price on Palo Alto Networks from $300.00 to $330.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $381.56.

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.