Interchange Capital Partners LLC increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,096 shares of the network technology company’s stock after purchasing an additional 85 shares during the period. Interchange Capital Partners LLC’s holdings in Palo Alto Networks were worth $838,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. St. Clair Advisors LLC increased its position in shares of Palo Alto Networks by 0.3% in the second quarter. St. Clair Advisors LLC now owns 15,800 shares of the network technology company’s stock worth $3,233,000 after purchasing an additional 50 shares during the period. Astoria Portfolio Advisors LLC. increased its position in shares of Palo Alto Networks by 2.1% in the second quarter. Astoria Portfolio Advisors LLC. now owns 2,467 shares of the network technology company’s stock worth $496,000 after purchasing an additional 50 shares during the period. Csenge Advisory Group increased its position in shares of Palo Alto Networks by 2.4% in the first quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company’s stock worth $381,000 after purchasing an additional 53 shares during the period. TFG Advisers LLC increased its position in shares of Palo Alto Networks by 1.1% in the second quarter. TFG Advisers LLC now owns 4,668 shares of the network technology company’s stock worth $955,000 after purchasing an additional 53 shares during the period. Finally, GSG Advisors LLC grew its position in Palo Alto Networks by 0.4% in the first quarter. GSG Advisors LLC now owns 12,450 shares of the network technology company’s stock valued at $2,154,000 after acquiring an additional 54 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.
Palo Alto Networks Price Performance
Shares of NASDAQ:PANW opened at $217.11 on Friday. The company has a market capitalization of $145.22 billion, a PE ratio of 135.27, a price-to-earnings-growth ratio of 5.16 and a beta of 0.98. The business has a fifty day moving average price of $200.79 and a two-hundred day moving average price of $192.46. Palo Alto Networks, Inc. has a 1 year low of $144.15 and a 1 year high of $218.23.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on PANW shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $232.00 target price on shares of Palo Alto Networks in a research report on Tuesday, August 19th. Barclays restated an “overweight” rating and set a $215.00 price target (up from $210.00) on shares of Palo Alto Networks in a report on Tuesday, August 19th. BMO Capital Markets upped their target price on Palo Alto Networks from $217.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, August 19th. BTIG Research upgraded Palo Alto Networks from a “neutral” rating to a “buy” rating in a report on Monday, October 13th. Finally, JMP Securities reissued a “market outperform” rating and issued a $212.00 price target on shares of Palo Alto Networks in a research note on Tuesday, August 19th. Thirty research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $217.22.
Get Our Latest Stock Report on Palo Alto Networks
Insider Transactions at Palo Alto Networks
In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $211.92, for a total value of $25,594,426.08. Following the completion of the transaction, the executive vice president owned 149,190 shares in the company, valued at $31,616,344.80. This represents a 44.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $202.16, for a total value of $141,512.00. Following the completion of the transaction, the chief accounting officer owned 32,474 shares of the company’s stock, valued at $6,564,943.84. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,315,130 shares of company stock worth $260,687,367. Company insiders own 2.50% of the company’s stock.
Palo Alto Networks Profile
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.
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