Nvwm LLC Has $3.57 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Cerbat Gem

Nvwm LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 0.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 10,440 shares of the network technology company’s stock after selling 38 shares during the period. Palo Alto Networks comprises about 0.9% of Nvwm LLC’s investment portfolio, making the stock its 28th biggest holding. Nvwm LLC’s holdings in Palo Alto Networks were worth $3,568,000 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 company. Vanguard Group Inc. increased its holdings in shares of Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after purchasing an additional 1,002,239 shares during the period. International Assets Investment Management LLC grew its position in Palo Alto Networks by 34,318.2% during the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after purchasing an additional 3,249,594 shares in the last quarter. Legal & General Group Plc increased its stake in Palo Alto Networks by 8.5% in the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after buying an additional 255,060 shares during the period. Jennison Associates LLC lifted its position in Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after buying an additional 198,078 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Palo Alto Networks by 5.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock valued at $757,321,000 after buying an additional 114,742 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Up 0.6 %

PANW stock traded up $2.31 during trading on Friday, hitting $362.64. 2,926,275 shares of the stock traded hands, compared to its average volume of 2,130,628. The stock has a market cap of $118.08 billion, a price-to-earnings ratio of 50.02, a P/E/G ratio of 5.22 and a beta of 1.12. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $384.00. The company has a 50 day simple moving average of $352.69 and a 200 day simple moving average of $329.39.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) 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%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. As a group, analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on PANW shares. Evercore ISI increased their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Robert W. Baird raised their price target on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Northland Securities boosted their price target on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research note on Tuesday, August 20th. UBS Group increased their price objective on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets upped their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $378.49.

Check Out Our Latest Stock Report on Palo Alto Networks

Insiders Place Their Bets

In related news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the sale, the director now directly owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 315,252 shares of company stock valued at $107,138,877. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Company Profile

(Free Report)

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.

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