Goldstream Capital Management Ltd Grows Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Goldstream Capital Management Ltd lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,610 shares of the network technology company’s stock after purchasing an additional 1,850 shares during the period. Palo Alto Networks comprises approximately 3.8% of Goldstream Capital Management Ltd’s portfolio, making the stock its 11th largest position. Goldstream Capital Management Ltd’s holdings in Palo Alto Networks were worth $5,783,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PANW. Accurate Wealth Management LLC purchased a new stake in shares of Palo Alto Networks during the 3rd quarter worth $196,000. SVB Wealth LLC lifted its position in shares of Palo Alto Networks by 2.9% during the 3rd quarter. SVB Wealth LLC now owns 9,189 shares of the network technology company’s stock worth $2,154,000 after purchasing an additional 258 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Palo Alto Networks by 42.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 84,114 shares of the network technology company’s stock valued at $19,720,000 after acquiring an additional 25,127 shares during the last quarter. Mission Wealth Management LP lifted its position in Palo Alto Networks by 3.1% in the third quarter. Mission Wealth Management LP now owns 2,801 shares of the network technology company’s stock valued at $657,000 after acquiring an additional 83 shares during the last quarter. Finally, Raymond James & Associates lifted its position in Palo Alto Networks by 1.7% in the third quarter. Raymond James & Associates now owns 579,480 shares of the network technology company’s stock valued at $135,853,000 after acquiring an additional 9,823 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Oppenheimer lifted their price objective on shares of Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Mizuho dropped their price objective on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Scotiabank dropped their price objective on shares of Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price target on shares of Palo Alto Networks in a research note on Wednesday, April 17th. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $7.98 during trading hours on Thursday, reaching $295.32. The company’s stock had a trading volume of 3,261,583 shares, compared to its average volume of 5,314,572. The company’s 50 day simple moving average is $285.15 and its 200 day simple moving average is $293.00. Palo Alto Networks, Inc. has a one year low of $176.35 and a one year high of $380.84. The stock has a market cap of $95.42 billion, a P/E ratio of 45.20, a price-to-earnings-growth ratio of 3.96 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.22. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In related 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 directly owns 27,247 shares in the company, valued at approximately $7,629,160. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related 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 directly owns 27,247 shares in the company, valued at approximately $7,629,160. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $56,327,194.65. The disclosure for this sale can be found here. Insiders have sold a total of 122,917 shares of company stock worth $33,959,203 in the last ninety days. 3.30% of the stock is owned by insiders.

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.