Brinker Capital Investments LLC Has $1.24 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Brinker Capital Investments LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) by 219.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,579 shares of the network technology company’s stock after buying an additional 5,204 shares during the quarter. Brinker Capital Investments LLC’s holdings in Palo Alto Networks were worth $1,241,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PANW. Ellevest Inc. lifted its holdings in Palo Alto Networks by 7.4% in the 2nd quarter. Ellevest Inc. now owns 292 shares of the network technology company’s stock worth $144,000 after buying an additional 20 shares during the period. Tandem Capital Management Corp ADV lifted its holdings in Palo Alto Networks by 3.6% in the 2nd quarter. Tandem Capital Management Corp ADV now owns 570 shares of the network technology company’s stock worth $282,000 after buying an additional 20 shares during the period. Covestor Ltd lifted its stake 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. Hanseatic Management Services Inc. lifted its stake in shares of Palo Alto Networks by 2.1% in the 2nd quarter. Hanseatic Management Services Inc. now owns 1,002 shares of the network technology company’s stock valued at $495,000 after purchasing an additional 21 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Palo Alto Networks by 0.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company’s stock valued at $1,843,000 after purchasing an additional 23 shares during the period. 81.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Trading Up 3.8 %

NASDAQ PANW opened at $146.10 on Friday. The business’s fifty day moving average is $152.91 and its 200 day moving average is $165.81. Palo Alto Networks, Inc. has a fifty-two week low of $132.22 and a fifty-two week high of $213.63.

Palo Alto Networks (NASDAQ:PANWGet Rating) last released its earnings results on Thursday, November 17th. The network technology company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. Palo Alto Networks had a negative return on equity of 5.02% and a negative net margin of 2.46%. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PANW has been the subject of a number of research analyst reports. Evercore ISI raised their target price on Palo Alto Networks from $207.00 to $215.00 in a research note on Friday, November 18th. Credit Suisse Group lowered their target price on Palo Alto Networks from $228.33 to $225.00 and set an “outperform” rating for the company in a research note on Friday, November 18th. Cowen restated a “buy” rating and issued a $207.00 target price on shares of Palo Alto Networks in a research note on Friday, November 18th. Macquarie initiated coverage on Palo Alto Networks in a research note on Wednesday, November 2nd. They set a “neutral” rating and a $185.00 price objective for the company. Finally, Cowen reiterated a “buy” rating and set a $207.00 price objective on shares of Palo Alto Networks in a research note on Friday, November 18th. Six investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $229.24.

Insider Activity

In other news, CFO Dipak Golechha sold 2,000 shares of the business’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $172.41, for a total value of $344,820.00. Following the transaction, the chief financial officer now directly owns 80,716 shares in the company, valued at $13,916,245.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark D. Mclaughlin sold 1,350 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $166.00, for a total value of $224,100.00. Following the sale, the director now directly owns 127,179 shares in the company, valued at $21,111,714. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dipak Golechha sold 2,000 shares of the business’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $172.41, for a total value of $344,820.00. Following the completion of the sale, the chief financial officer now owns 80,716 shares in the company, valued at $13,916,245.56. The disclosure for this sale can be found here. Insiders have sold 299,930 shares of company stock worth $48,677,038 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

About Palo Alto Networks

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Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on a customer's network, as well as their instances in public or private cloud environments, 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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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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