MidAtlantic Capital Management Inc. Takes $32,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

MidAtlantic Capital Management Inc. purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 94 shares of the network technology company’s stock, valued at approximately $32,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PANW. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the first quarter worth about $25,000. Capital Advisors Ltd. LLC grew its stake in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 67 shares during the period. Strategic Investment Solutions Inc. IL raised its stake in shares of Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. lifted its holdings in shares of Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after purchasing an additional 100 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PANW has been the topic of several recent research reports. KeyCorp boosted their price objective on shares of Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Rosenblatt Securities raised their price objective on shares of Palo Alto Networks from $345.00 to $390.00 and gave the company a “neutral” rating in a research report on Monday. JMP Securities reiterated a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research report on Monday, November 4th. The Goldman Sachs Group raised their price target on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley upped their price objective on Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $390.39.

Insider Buying and Selling at Palo Alto Networks

In related news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the transaction, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. The trade was a 24.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. This trade represents a 27.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,252 shares of company stock valued at $89,041,637 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Down 0.0 %

Shares of Palo Alto Networks stock opened at $386.83 on Tuesday. The business’s fifty day moving average price is $360.72 and its 200 day moving average price is $337.38. Palo Alto Networks, Inc. has a twelve month low of $249.56 and a twelve month high of $408.53. The stock has a market capitalization of $125.95 billion, a P/E ratio of 53.36, a PEG ratio of 5.61 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict 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.