Carr Financial Group Corp Buys 30 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Carr Financial Group Corp boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 715 shares of the network technology company’s stock after purchasing an additional 30 shares during the quarter. Carr Financial Group Corp’s holdings in Palo Alto Networks were worth $244,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GSG Advisors LLC increased its holdings in Palo Alto Networks by 0.6% in the 3rd quarter. GSG Advisors LLC now owns 6,190 shares of the network technology company’s stock valued at $2,038,000 after buying an additional 34 shares during the period. Atria Investments Inc increased its stake in Palo Alto Networks by 9.4% in the third quarter. Atria Investments Inc now owns 30,380 shares of the network technology company’s stock valued at $10,384,000 after acquiring an additional 2,608 shares during the last quarter. Essex Savings Bank raised its position in Palo Alto Networks by 5.7% during the third quarter. Essex Savings Bank now owns 4,466 shares of the network technology company’s stock valued at $1,526,000 after purchasing an additional 242 shares in the last quarter. Objective Capital Management LLC bought a new stake in Palo Alto Networks during the third quarter worth $282,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Palo Alto Networks by 2.2% in the 3rd quarter. Lindbrook Capital LLC now owns 3,837 shares of the network technology company’s stock valued at $1,311,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays boosted their price target on Palo Alto Networks from $370.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Oppenheimer boosted their target price on Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their price target for the company from $350.00 to $325.00 in a research note on Thursday, July 18th. Evercore ISI upped their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $378.49.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $391.40 on Friday. The company has a market cap of $127.44 billion, a P/E ratio of 53.99, a PEG ratio of 5.59 and a beta of 1.12. Palo Alto Networks, Inc. has a fifty-two week low of $234.15 and a fifty-two week high of $393.21. The stock has a 50 day simple moving average of $355.13 and a two-hundred day simple moving average of $332.47.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results 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 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 quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 EPS. On average, research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $54,854,924.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,252 shares of company stock valued at $89,383,077 in the last 90 days. 3.30% of the stock is currently owned by corporate insiders.

About Palo Alto Networks

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.