Cary Street Partners Financial LLC Has $5.18 Million Stock Holdings in Palo Alto Networks, Inc. $PANW

Cary Street Partners Financial LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.7% during the second quarter, HoldingsChannel.com reports. The fund owned 25,320 shares of the network technology company’s stock after buying an additional 2,853 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Palo Alto Networks were worth $5,181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of Palo Alto Networks by 147.7% in the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock valued at $1,230,000 after purchasing an additional 4,031 shares during the last quarter. Bison Wealth LLC boosted its stake in Palo Alto Networks by 169.1% in the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock valued at $948,000 after buying an additional 3,275 shares in the last quarter. XTX Topco Ltd acquired a new stake in Palo Alto Networks in the first quarter valued at about $316,000. AlphaCore Capital LLC bought a new position in Palo Alto Networks in the first quarter valued at about $215,000. Finally, Cynosure Group LLC raised its stake in Palo Alto Networks by 24.3% during the first quarter. Cynosure Group LLC now owns 1,850 shares of the network technology company’s stock worth $316,000 after acquiring an additional 362 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and set a $248.00 price target on shares of Palo Alto Networks in a report on Monday, November 17th. Tigress Financial started coverage on shares of Palo Alto Networks in a research report on Friday, September 26th. They issued a “buy” rating and a $245.00 target price on the stock. Sanford C. Bernstein boosted their target price on shares of Palo Alto Networks from $207.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. The Goldman Sachs Group reiterated a “buy” rating and issued a $240.00 price target (up from $236.00) on shares of Palo Alto Networks in a research note on Thursday, November 20th. Finally, BMO Capital Markets raised their price objective on Palo Alto Networks from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Thirty investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $225.09.

Palo Alto Networks Stock Up 1.6%

Shares of Palo Alto Networks stock opened at $198.84 on Monday. The stock has a market cap of $138.59 billion, a price-to-earnings ratio of 125.85, a P/E/G ratio of 4.71 and a beta of 0.79. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61. The company’s fifty day moving average is $205.98 and its 200 day moving average is $197.36.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the business earned $1.56 EPS. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 96,135 shares of the company’s stock, valued at approximately $19,629,805.65. This represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $217.94, for a total transaction of $26,321,485.56. Following the transaction, the executive vice president owned 356,409 shares of the company’s stock, valued at approximately $77,675,777.46. The trade was a 25.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,215,830 shares of company stock valued at $249,260,680 in the last ninety days. Insiders own 1.40% of the company’s stock.

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.