Princeton Capital Management LLC Makes New $251,000 Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Princeton Capital Management LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, Holdings Channel reports. The institutional investor bought 735 shares of the network technology company’s stock, valued at approximately $251,000.

A number of other large investors have also recently bought and sold shares of PANW. Kathmere Capital Management LLC grew its position in Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares in the last quarter. FLC Capital Advisors grew its position in Palo Alto Networks by 0.7% during the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after purchasing an additional 30 shares in the last quarter. Cromwell Holdings LLC grew 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 purchasing an additional 30 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of Palo Alto Networks by 9.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after buying an additional 30 shares during the period. Finally, Geneva Partners LLC boosted its stake in shares of 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 buying an additional 30 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of research reports. KeyCorp lifted their target price 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. Wedbush reissued an “outperform” rating and set a $375.00 target price on shares of Palo Alto Networks in a research note on Friday, August 16th. BMO Capital Markets lifted their target price on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Barclays lifted their target price on shares of Palo Alto Networks from $410.00 to $425.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, Evercore ISI lifted their target price on shares of Palo Alto Networks from $395.00 to $455.00 and gave the company an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $390.39.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. The trade was a 27.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 11.65 % 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 quarter. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $386.83 on Tuesday. The firm’s 50-day moving average is $360.72 and its 200-day moving average is $337.38. Palo Alto Networks, Inc. has a 52-week low of $249.56 and a 52-week high of $408.53. The company has a market cap of $125.95 billion, a price-to-earnings ratio of 53.36, a PEG ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion for 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 firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Equities analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Palo Alto Networks Company 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.