Greykasell Wealth Strategies Inc. Raises Stake in Palo Alto Networks, Inc. $PANW

Greykasell Wealth Strategies Inc. increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 76.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 956 shares of the network technology company’s stock after buying an additional 415 shares during the period. Greykasell Wealth Strategies Inc.’s holdings in Palo Alto Networks were worth $196,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC raised its holdings in Palo Alto Networks by 6,400.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Palo Alto Networks in the second quarter valued at $28,000. MTM Investment Management LLC acquired a new position in Palo Alto Networks in the second quarter valued at $31,000. Dagco Inc. purchased a new position in Palo Alto Networks during the first quarter worth about $33,000. Finally, WPG Advisers LLC purchased a new position in Palo Alto Networks during the first quarter worth about $37,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PANW shares. Rosenblatt Securities lowered their price target on Palo Alto Networks from $235.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, August 14th. Cantor Fitzgerald upped their price target on shares of Palo Alto Networks from $223.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday. KeyCorp downgraded shares of Palo Alto Networks from an “overweight” rating to a “sector weight” rating in a research note on Thursday, July 31st. Morgan Stanley boosted their price objective on shares of Palo Alto Networks from $216.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Finally, Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 19th. Twenty-nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.24.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $191.11, for a total transaction of $23,081,119.14. Following the sale, the executive vice president directly owned 177,954 shares in the company, valued at approximately $34,008,788.94. This trade represents a 40.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $204.19, for a total value of $1,020,950.00. Following the transaction, the executive vice president directly owned 96,135 shares in the company, valued at $19,629,805.65. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,215,830 shares of company stock valued at $249,160,428. 1.40% of the stock is owned by company insiders.

Palo Alto Networks Stock Down 1.1%

Palo Alto Networks stock opened at $202.90 on Tuesday. The firm has a fifty day moving average of $209.18 and a 200-day moving average of $197.32. Palo Alto Networks, Inc. has a 52-week low of $144.15 and a 52-week high of $223.61. The firm has a market capitalization of $138.78 billion, a P/E ratio of 126.42, a PEG ratio of 4.88 and a beta of 0.95.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 18th. The network technology company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. Palo Alto Networks had a net margin of 12.30% and a return on equity of 17.66%. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. On average, research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.