Palo Alto Networks, Inc. (NASDAQ:PANW) Holdings Raised by Hartline Investment Corp

Hartline Investment Corp increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,677 shares of the network technology company’s stock after purchasing an additional 135 shares during the quarter. Palo Alto Networks makes up 1.5% of Hartline Investment Corp’s investment portfolio, making the stock its 18th largest holding. Hartline Investment Corp’s holdings in Palo Alto Networks were worth $12,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kathmere Capital Management LLC lifted its holdings in shares of Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after purchasing an additional 30 shares in the last quarter. FLC Capital Advisors raised its position in Palo Alto Networks by 0.7% during the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after buying an additional 30 shares during the period. Cromwell Holdings LLC boosted its position in Palo Alto Networks by 3.0% during the 3rd 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 boosted its position in Palo Alto Networks by 9.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after acquiring an additional 30 shares during the period. Finally, Geneva Partners LLC grew 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 acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.0 %

Shares of NASDAQ PANW opened at $398.02 on Wednesday. The firm has a market capitalization of $129.60 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 5.77 and a beta of 1.12. Palo Alto Networks, Inc. has a one year low of $234.15 and a one year high of $400.69. The business has a fifty day simple moving average of $356.70 and a 200 day simple moving average of $334.54.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 EPS. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PANW shares. Robert W. Baird raised their price target on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. BTIG Research upped their price target on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. DA Davidson lifted their price objective on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. BMO Capital Markets boosted their target price on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Finally, Needham & Company LLC raised their price target on Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $378.87.

Insider Buying and Selling

In other news, CEO Nikesh Arora sold 81,586 shares of the company’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 value of $30,022,832.14. Following the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nikesh Arora sold 81,586 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock valued at $89,383,077 over the last quarter. Corporate 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.