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IHT Wealth Management LLC Buys New Shares in Palo Alto Networks Inc (NYSE:PANW)

IHT Wealth Management LLC purchased a new stake in Palo Alto Networks Inc (NYSE:PANW) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,044 shares of the network technology company’s stock, valued at approximately $213,000.

A number of other hedge funds have also modified their holdings of PANW. Senator Investment Group LP acquired a new stake in shares of Palo Alto Networks in the 2nd quarter valued at approximately $203,760,000. Renaissance Technologies LLC grew its position in shares of Palo Alto Networks by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 5,074,350 shares of the network technology company’s stock valued at $1,033,950,000 after acquiring an additional 590,200 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Palo Alto Networks by 292.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 620,651 shares of the network technology company’s stock worth $126,464,000 after purchasing an additional 462,447 shares during the last quarter. Cadian Capital Management LP increased its stake in shares of Palo Alto Networks by 41.9% during the 2nd quarter. Cadian Capital Management LP now owns 1,318,316 shares of the network technology company’s stock worth $268,620,000 after purchasing an additional 389,383 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Palo Alto Networks by 29.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,460,690 shares of the network technology company’s stock valued at $297,630,000 after purchasing an additional 332,680 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

PANW has been the subject of several recent analyst reports. Piper Jaffray Companies began coverage on shares of Palo Alto Networks in a research note on Friday, November 8th. They issued a “neutral” rating and a $270.00 target price for the company. Wells Fargo & Co lowered their price target on Palo Alto Networks from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Barclays dropped their price objective on Palo Alto Networks from $264.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 26th. KeyCorp dropped their price objective on Palo Alto Networks from $280.00 to $250.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Finally, Goldman Sachs Group assumed coverage on Palo Alto Networks in a research report on Tuesday, November 12th. They issued a “buy” rating and a $295.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Palo Alto Networks presently has an average rating of “Buy” and an average target price of $261.06.

In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $210.66, for a total value of $2,527,920.00. Following the completion of the transaction, the executive vice president now directly owns 924,695 shares of the company’s stock, valued at approximately $194,796,248.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nikesh Arora acquired 25,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average cost of $221.54 per share, with a total value of $5,538,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 479,429 shares in the company, valued at $106,212,700.66. The disclosure for this purchase can be found here. Insiders sold 77,610 shares of company stock worth $16,437,971 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Shares of NYSE PANW opened at $227.01 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.78 and a quick ratio of 1.78. The stock’s fifty day moving average price is $230.56 and its two-hundred day moving average price is $215.51. Palo Alto Networks Inc has a one year low of $168.80 and a one year high of $260.63. The firm has a market cap of $22.26 billion, a price-to-earnings ratio of 360.33 and a beta of 0.94.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, November 25th. The network technology company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $1.22. The company had revenue of $772.00 million during the quarter, compared to the consensus estimate of $769.34 million. Palo Alto Networks had a positive return on equity of 2.43% and a negative net margin of 3.42%. The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 earnings per share. On average, equities analysts anticipate that Palo Alto Networks Inc will post -0.12 earnings per share for the current fiscal year.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer’s network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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