Telos Capital Management Inc. Acquires New Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Telos Capital Management Inc. acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 6,115 shares of the network technology company’s stock, valued at approximately $1,803,000.

Several other institutional investors have also added to or reduced their stakes in PANW. Worth Asset Management LLC bought a new stake in Palo Alto Networks during the 1st quarter worth about $26,000. Covestor Ltd raised its holdings in shares of Palo Alto Networks by 61.8% in the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after purchasing an additional 21 shares during the period. Salem Investment Counselors Inc. raised its holdings in shares of Palo Alto Networks by 1,071.4% in the 2nd quarter. Salem Investment Counselors Inc. now owns 82 shares of the network technology company’s stock valued at $41,000 after purchasing an additional 75 shares during the period. Webster Bank N. A. raised its holdings in shares of Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Finally, Cedar Mountain Advisors LLC raised its holdings in shares of Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares during the period. 79.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,917 shares of company stock valued at $49,395,553. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 0.8 %

Shares of PANW traded up $2.26 during trading hours on Wednesday, reaching $277.28. 2,225,246 shares of the stock traded hands, compared to its average volume of 5,605,937. The stock has a fifty day simple moving average of $300.91 and a 200 day simple moving average of $290.27. Palo Alto Networks, Inc. has a 52 week low of $176.30 and a 52 week high of $380.84. The company has a market cap of $89.59 billion, a price-to-earnings ratio of 43.26, a PEG ratio of 3.71 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Analysts predict that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wedbush upped their price target on shares of Palo Alto Networks from $350.00 to $425.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. KeyCorp decreased their target price on shares of Palo Alto Networks from $390.00 to $380.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Mizuho decreased their target price on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Oppenheimer decreased their target price on shares of Palo Alto Networks from $310.00 to $305.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Finally, Capital One Financial lowered shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 target price on the stock. in a research report on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average 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.