Janney Montgomery Scott LLC Has $41.55 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Janney Montgomery Scott LLC cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 121,563 shares of the network technology company’s stock after selling 2,345 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Palo Alto Networks were worth $41,550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Alpha Cubed Investments LLC boosted its stake in Palo Alto Networks by 16.4% in the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after purchasing an additional 32,626 shares during the period. Wealthspire Advisors LLC grew its stake in shares of Palo Alto Networks by 1.7% in the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after acquiring an additional 75 shares in the last quarter. Handelsbanken Fonder AB increased its position in Palo Alto Networks by 3.8% during the third quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock worth $67,232,000 after acquiring an additional 7,291 shares during the period. Parsons Capital Management Inc. RI raised its stake in Palo Alto Networks by 4.5% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock worth $914,000 after purchasing an additional 116 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its position in shares of Palo Alto Networks by 38.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 14,229 shares of the network technology company’s stock worth $4,043,000 after purchasing an additional 3,965 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.6 %

Shares of PANW stock opened at $362.64 on Monday. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00. The firm has a 50 day moving average of $352.69 and a 200-day moving average of $329.75. The company has a market cap of $118.08 billion, a price-to-earnings ratio of 50.02, a price-to-earnings-growth ratio of 5.22 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the business posted $0.80 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts anticipate that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price target on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Cantor Fitzgerald upgraded Palo Alto Networks to a “strong-buy” rating in a research report on Friday. Royal Bank of Canada raised their price target on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Northland Securities increased their price objective on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 20th. Finally, KeyCorp upped their price target on shares of Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Eleven analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.49.

Insider Activity

In related news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares in the company, valued at $14,175,564.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock worth $89,383,077 over the last quarter. 3.30% of the stock is currently owned by corporate 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.