Aigen Investment Management LP Buys Shares of 2,333 Palo Alto Networks, Inc. (NASDAQ:PANW)

Aigen Investment Management LP bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, HoldingsChannel reports. The fund bought 2,333 shares of the network technology company’s stock, valued at approximately $797,000.

Several other large investors have also recently bought and sold shares of the business. Capital Advisors Ltd. LLC increased its position in Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after purchasing an additional 41 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks during the 1st quarter worth $25,000. Finally, First PREMIER Bank raised its holdings in shares of Palo Alto Networks by 48.4% during the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 31 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.0 %

NASDAQ:PANW opened at $398.02 on Wednesday. Palo Alto Networks, Inc. has a 1 year low of $234.15 and a 1 year high of $400.69. The stock has a 50-day moving average price of $355.84 and a two-hundred day moving average price of $333.78. The stock has a market cap of $129.60 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 5.77 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 EPS. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the transaction, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction that occurred on 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 $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 255,252 shares of company stock valued at $89,383,077. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on PANW shares. Robert W. Baird increased their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Wells Fargo & Company boosted their target price on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Redburn Atlantic downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price target for the company from $350.00 to $325.00 in a report on Thursday, July 18th. UBS Group boosted their price objective on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $378.87.

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.