Investment House LLC Has $395,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Investment House LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 13.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,165 shares of the network technology company’s stock after acquiring an additional 135 shares during the quarter. Investment House LLC’s holdings in Palo Alto Networks were worth $395,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Horizon Family Wealth Inc. increased its stake in Palo Alto Networks by 1.1% in the fourth quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after acquiring an additional 28 shares during the last quarter. Manchester Capital Management LLC grew its stake in shares of Palo Alto Networks by 17.2% during the fourth quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock worth $60,000 after buying an additional 30 shares during the last quarter. Cascade Investment Group Inc. grew its stake in shares of Palo Alto Networks by 2.9% during the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after buying an additional 31 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its stake in shares of Palo Alto Networks by 2.3% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock worth $450,000 after buying an additional 34 shares during the last quarter. Finally, Sepio Capital LP grew its stake in shares of Palo Alto Networks by 3.7% during the fourth quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock worth $278,000 after buying an additional 34 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PANW has been the topic of a number of recent research reports. DA Davidson lifted their price target on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Evercore ISI boosted their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Piper Sandler boosted their target price on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday. Thirteen analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $363.49.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the transaction, the president now directly owns 20,501 shares in the company, valued at $6,292,166.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total value of $497,517.32. Following the completion of the sale, the president now directly owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $293.31, for a total value of $10,559,160.00. Following the completion of the sale, the executive vice president now directly owns 1,259,567 shares of the company’s stock, valued at $369,443,596.77. The disclosure for this sale can be found here. Insiders have sold 366,993 shares of company stock worth $118,596,770 over the last three months. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW stock traded down $8.26 during trading hours on Wednesday, reaching $359.75. 4,789,192 shares of the stock were exchanged, compared to its average volume of 4,443,556. The business’s fifty day moving average is $328.10 and its two-hundred day moving average is $310.84. Palo Alto Networks, Inc. has a 12-month low of $224.64 and a 12-month high of $380.84. The firm has a market capitalization of $116.49 billion, a P/E ratio of 53.24, a P/E/G ratio of 4.48 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

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.