KPP Advisory Services LLC Has $915,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

KPP Advisory Services LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 310.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,677 shares of the network technology company’s stock after purchasing an additional 2,025 shares during the quarter. KPP Advisory Services LLC’s holdings in Palo Alto Networks were worth $915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PANW. Nwam LLC boosted its position in Palo Alto Networks by 16.8% during the 1st quarter. Nwam LLC now owns 1,278 shares of the network technology company’s stock worth $390,000 after acquiring an additional 184 shares during the last quarter. M&G Plc acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $1,965,000. First Foundation Advisors boosted its holdings in shares of Palo Alto Networks by 37.8% in the 1st quarter. First Foundation Advisors now owns 259 shares of the network technology company’s stock valued at $74,000 after buying an additional 71 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Palo Alto Networks by 265.0% in the 1st quarter. Intech Investment Management LLC now owns 4,957 shares of the network technology company’s stock valued at $1,408,000 after buying an additional 3,599 shares during the last quarter. Finally, Cercano Management LLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $15,498,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated 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 in the company, valued at $227,680,932.85. This trade represents a 11.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This trade represents a 27.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,252 shares of company stock valued at $89,383,077. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

NASDAQ:PANW traded down $7.39 during trading hours on Friday, hitting $387.00. The company’s stock had a trading volume of 2,204,087 shares, compared to its average volume of 3,849,976. The stock has a fifty day simple moving average of $359.86 and a 200-day simple moving average of $336.07. The company has a market capitalization of $126.01 billion, a P/E ratio of 53.38, a PEG ratio of 5.84 and a beta of 1.12. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm posted $0.80 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PANW shares. DA Davidson increased their price objective on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. JMP Securities reissued a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a report on Monday, November 4th. BMO Capital Markets increased their price objective on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. OTR Global restated a “negative” rating on shares of Palo Alto Networks in a research note on Thursday, November 7th. Finally, BNP Paribas started coverage on Palo Alto Networks in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $381.56.

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.