Pinnacle Wealth Planning Services Inc. Buys 326 Shares of Palo Alto Networks, Inc. $PANW

Pinnacle Wealth Planning Services Inc. raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 13.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,829 shares of the network technology company’s stock after buying an additional 326 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Palo Alto Networks were worth $579,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Palo Alto Networks during the 1st quarter valued at about $261,000. Strive Asset Management LLC raised its holdings in Palo Alto Networks by 16.6% during the 1st quarter. Strive Asset Management LLC now owns 2,099 shares of the network technology company’s stock worth $358,000 after buying an additional 299 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Palo Alto Networks by 25.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 205,053 shares of the network technology company’s stock worth $41,957,000 after buying an additional 41,392 shares during the period. Whipplewood Advisors LLC boosted its holdings in shares of Palo Alto Networks by 6,400.0% in the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after buying an additional 128 shares during the period. Finally, Arkadios Wealth Advisors boosted its holdings in shares of Palo Alto Networks by 9.2% in the second quarter. Arkadios Wealth Advisors now owns 39,893 shares of the network technology company’s stock valued at $8,164,000 after buying an additional 3,351 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Down 0.9%

PANW stock opened at $201.00 on Wednesday. The company has a market cap of $137.48 billion, a price-to-earnings ratio of 125.23, a P/E/G ratio of 4.82 and a beta of 0.95. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61. The business has a 50 day moving average price of $209.25 and a two-hundred day moving average price of $197.42.

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

Analysts Set New Price Targets

Several research firms recently commented on PANW. Robert W. Baird boosted their price objective on shares of Palo Alto Networks from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. Sanford C. Bernstein set a $207.00 price target on Palo Alto Networks and gave the company an “outperform” rating in a report on Tuesday, August 19th. JMP Securities upped their price objective on Palo Alto Networks from $212.00 to $250.00 and gave the stock a “market outperform” rating in a research report on Monday, October 27th. Wedbush reissued an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a research report on Monday, September 15th. Finally, Royal Bank Of Canada boosted their target price on Palo Alto Networks from $232.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. Twenty-nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.14.

Insider Activity

In other news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $204.19, for a total transaction 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. The trade was a 4.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $219.97, for a total transaction of $153,979.00. Following the completion of the sale, the chief accounting officer owned 47,505 shares of the company’s stock, valued at $10,449,674.85. This trade represents a 1.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,215,830 shares of company stock worth $249,160,428. Insiders own 1.40% of the company’s stock.

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.