Telos Capital Management Inc. Boosts Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Telos Capital Management Inc. lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,255 shares of the network technology company’s stock after buying an additional 1,915 shares during the quarter. Palo Alto Networks makes up approximately 1.1% of Telos Capital Management Inc.’s portfolio, making the stock its 29th biggest holding. Telos Capital Management Inc.’s holdings in Palo Alto Networks were worth $9,918,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Beacon Pointe Advisors LLC boosted its position in shares of Palo Alto Networks by 31.4% during the 4th quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after acquiring an additional 26,767 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Palo Alto Networks by 9.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock valued at $7,291,000 after buying an additional 2,225 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Palo Alto Networks by 91.0% during the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock worth $478,000 after acquiring an additional 802 shares during the last quarter. American National Bank grew its position in Palo Alto Networks by 67.4% in the fourth quarter. American National Bank now owns 231 shares of the network technology company’s stock worth $68,000 after acquiring an additional 93 shares in the last quarter. Finally, Smithfield Trust Co increased its stake in Palo Alto Networks by 2.3% in the fourth quarter. Smithfield Trust Co now owns 2,762 shares of the network technology company’s stock valued at $814,000 after acquiring an additional 61 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was 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 owns 31,517 shares in the company, valued at approximately $10,983,359.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now directly owns 31,517 shares in the company, valued at approximately $10,983,359.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 125,866 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the sale, the executive vice president now owns 166,542 shares in the company, valued at approximately $55,791,570. The disclosure for this sale can be found here. In the last quarter, insiders have sold 376,372 shares of company stock worth $121,925,593. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Trading Up 1.3 %

NASDAQ PANW traded up $4.51 during trading hours on Friday, hitting $362.72. 2,988,576 shares of the company’s stock traded hands, compared to its average volume of 3,892,995. Palo Alto Networks, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84. The firm has a market capitalization of $117.45 billion, a P/E ratio of 52.72, a P/E/G ratio of 4.82 and a beta of 1.14. The business’s fifty day moving average price is $333.84 and its two-hundred day moving average price is $310.72.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company 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%. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PANW. Redburn Atlantic lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $350.00 to $325.00 in a research note on Thursday, July 18th. Wells Fargo & Company upped their target price on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. UBS Group lifted their price target on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Finally, Scotiabank increased their target price on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $364.08.

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.