Schrum Private Wealth Management LLC Raises Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Schrum Private Wealth Management LLC lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,798 shares of the network technology company’s stock after buying an additional 516 shares during the period. Schrum Private Wealth Management LLC’s holdings in Palo Alto Networks were worth $1,640,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PANW. Avantax Advisory Services Inc. grew its holdings in Palo Alto Networks by 13.5% in the first quarter. Avantax Advisory Services Inc. now owns 10,319 shares of the network technology company’s stock valued at $2,932,000 after purchasing an additional 1,229 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Palo Alto Networks by 9.1% during the 1st quarter. Bleakley Financial Group LLC now owns 5,803 shares of the network technology company’s stock worth $1,649,000 after buying an additional 483 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Palo Alto Networks by 22.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 420,902 shares of the network technology company’s stock worth $119,591,000 after buying an additional 78,260 shares during the period. TBH Global Asset Management LLC boosted its holdings in Palo Alto Networks by 101.5% in the first quarter. TBH Global Asset Management LLC now owns 9,495 shares of the network technology company’s stock valued at $2,698,000 after acquiring an additional 4,784 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its position in Palo Alto Networks by 828.7% during the first quarter. Beacon Investment Advisory Services Inc. now owns 48,571 shares of the network technology company’s stock valued at $13,800,000 after acquiring an additional 43,341 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction dated 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 transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. 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 available at the SEC website. In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were 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 $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock worth $89,383,077 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. DA Davidson boosted their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. BTIG Research raised their target price on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Finally, Susquehanna raised their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research report on Thursday, September 5th. 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, the company has an average rating of “Moderate Buy” and an average price target of $378.87.

Palo Alto Networks Price Performance

Shares of PANW traded up $6.47 during trading hours on Wednesday, reaching $404.49. 549,945 shares of the company’s stock traded hands, compared to its average volume of 3,857,142. The firm has a market capitalization of $131.70 billion, a price-to-earnings ratio of 54.90, a P/E/G ratio of 5.77 and a beta of 1.12. The business’s fifty day simple moving average is $356.70 and its two-hundred day simple moving average is $334.54. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $406.04.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly 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 the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. Palo Alto Networks’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

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.