NTV Asset Management LLC Acquires 1,775 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

NTV Asset Management LLC increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 57.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,850 shares of the network technology company’s stock after buying an additional 1,775 shares during the quarter. NTV Asset Management LLC’s holdings in Palo Alto Networks were worth $1,430,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PANW. Stratos Wealth Partners LTD. grew its stake in shares of Palo Alto Networks by 55.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 6,555 shares of the network technology company’s stock valued at $1,537,000 after purchasing an additional 2,343 shares during the period. J.W. Cole Advisors Inc. lifted its position in shares of Palo Alto Networks by 40.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,663 shares of the network technology company’s stock valued at $390,000 after buying an additional 479 shares in the last quarter. NorthRock Partners LLC lifted its position in shares of Palo Alto Networks by 25.3% during the 3rd quarter. NorthRock Partners LLC now owns 1,080 shares of the network technology company’s stock valued at $253,000 after buying an additional 218 shares in the last quarter. Strategic Investment Advisors MI lifted its position in shares of Palo Alto Networks by 10.7% during the 3rd quarter. Strategic Investment Advisors MI now owns 2,024 shares of the network technology company’s stock valued at $475,000 after buying an additional 196 shares in the last quarter. Finally, Means Investment CO. Inc. lifted its position in shares of Palo Alto Networks by 6.9% during the 3rd quarter. Means Investment CO. Inc. now owns 942 shares of the network technology company’s stock valued at $221,000 after buying an additional 61 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now directly owns 25,812 shares in the company, valued at approximately $7,230,715.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the transaction, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total value of $10,376,640.00. Following the completion of the transaction, the executive vice president now directly owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. Insiders have sold a total of 158,917 shares of company stock worth $44,335,843 over the last quarter. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Up 0.3 %

Shares of Palo Alto Networks stock traded up $0.89 during midday trading on Friday, hitting $296.21. The company had a trading volume of 3,438,974 shares, compared to its average volume of 3,429,938. The company has a fifty day simple moving average of $285.70 and a 200 day simple moving average of $293.01. The stock has a market cap of $95.71 billion, a price-to-earnings ratio of 46.28, a PEG ratio of 4.01 and a beta of 1.18. Palo Alto Networks, Inc. has a 12-month low of $177.09 and a 12-month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. As a group, analysts expect that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PANW. Rosenblatt Securities cut Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $290.00 to $265.00 in a research report on Wednesday, February 21st. Redburn Atlantic lifted their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. BMO Capital Markets lowered their price target on Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Oppenheimer boosted their price target on Palo Alto Networks from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group boosted their price target on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks Company 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.