CVA Family Office LLC Purchases 32 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

CVA Family Office LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 280 shares of the network technology company’s stock after purchasing an additional 32 shares during the period. CVA Family Office LLC’s holdings in Palo Alto Networks were worth $96,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after acquiring an additional 1,002,239 shares during the last quarter. Swedbank AB purchased a new position in Palo Alto Networks during the first quarter valued at $177,933,000. Altshuler Shaham Ltd increased its position in Palo Alto Networks by 444,100.0% in the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after buying an additional 444,100 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Palo Alto Networks by 8.5% in the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after buying an additional 255,060 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after buying an additional 198,078 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 1.0 %

Shares of NASDAQ:PANW opened at $373.20 on Monday. The business’s 50 day moving average is $342.20 and its 200 day moving average is $320.00. The stock has a market cap of $120.84 billion, a P/E ratio of 54.24, a price-to-earnings-growth ratio of 5.26 and a beta of 1.13. Palo Alto Networks, Inc. has a 52-week low of $233.81 and a 52-week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares in the company, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,866 shares of company stock valued at $88,620,447. 3.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Needham & Company LLC raised their target price on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Redburn Atlantic cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their target price for the company from $350.00 to $325.00 in a research note on Thursday, July 18th. KeyCorp increased their price target on Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. BMO Capital Markets boosted their price objective on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, Truist Financial increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $372.28.

Palo Alto Networks 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.