Harvest Volatility Management LLC Has $2.07 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Harvest Volatility Management LLC reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 14.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,703 shares of the network technology company’s stock after selling 1,812 shares during the quarter. Harvest Volatility Management LLC’s holdings in Palo Alto Networks were worth $2,072,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. American National Bank lifted its stake in Palo Alto Networks by 600.0% in the first quarter. American National Bank now owns 126 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 108 shares during the last quarter. Dark Forest Capital Management LP lifted its stake in Palo Alto Networks by 2,950.0% in the fourth quarter. Dark Forest Capital Management LP now owns 183 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 177 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new stake in Palo Alto Networks in the fourth quarter valued at approximately $26,000. ST Germain D J Co. Inc. lifted its stake in Palo Alto Networks by 205.3% in the fourth quarter. ST Germain D J Co. Inc. now owns 63,353 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 42,600 shares during the last quarter. Finally, Worth Asset Management LLC acquired a new stake in Palo Alto Networks in the first quarter valued at approximately $26,000. 85.69% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Up 1.8 %

Shares of NASDAQ PANW opened at $253.14 on Tuesday. The firm’s 50-day simple moving average is $237.05 and its 200 day simple moving average is $216.34. The company has a market cap of $78.12 billion, a price-to-earnings ratio of 200.91, a price-to-earnings-growth ratio of 3.52 and a beta of 1.19. Palo Alto Networks, Inc. has a 12-month low of $132.22 and a 12-month high of $258.88.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Friday, August 18th. The network technology company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.15. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. Palo Alto Networks had a net margin of 6.38% and a return on equity of 51.13%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. On average, equities analysts expect that Palo Alto Networks, Inc. will post 2.5 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 250 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $255.10, for a total transaction of $63,775.00. Following the transaction, the chief accounting officer now owns 28,302 shares in the company, valued at approximately $7,219,840.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $254.01, for a total transaction of $9,144,360.00. Following the transaction, the executive vice president now directly owns 1,630,898 shares in the company, valued at approximately $414,264,400.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 250 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $255.10, for a total transaction of $63,775.00. Following the transaction, the chief accounting officer now owns 28,302 shares in the company, valued at $7,219,840.20. The disclosure for this sale can be found here. Insiders have sold a total of 167,586 shares of company stock worth $40,140,271 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PANW. StockNews.com began coverage on shares of Palo Alto Networks in a research note on Wednesday, August 23rd. They issued a “hold” rating for the company. Evercore ISI lifted their price target on shares of Palo Alto Networks from $240.00 to $295.00 and gave the company an “outperform” rating in a research report on Monday, August 21st. Barclays lifted their price target on shares of Palo Alto Networks from $245.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palo Alto Networks from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, August 21st. Finally, The Goldman Sachs Group lifted their price target on shares of Palo Alto Networks from $230.00 to $254.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $264.19.

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.