Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Raised by Accurate Wealth Management LLC

Accurate Wealth Management LLC raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,468 shares of the network technology company’s stock after acquiring an additional 79 shares during the quarter. Accurate Wealth Management LLC’s holdings in Palo Alto Networks were worth $550,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PANW. Vanguard Group Inc. raised its holdings in shares of Palo Alto Networks by 3.6% during the first 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 in the last quarter. Legal & General Group Plc lifted its holdings in shares of Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after buying an additional 255,060 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Palo Alto Networks by 7.6% in 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. Canada Pension Plan Investment Board increased its holdings in Palo Alto Networks by 5.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock worth $757,321,000 after buying an additional 114,742 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Palo Alto Networks by 8.0% during the second quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock valued at $339,183,000 after acquiring an additional 73,922 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PANW. Oppenheimer boosted their target price on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. BNP Paribas started coverage on Palo Alto Networks in a research note on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $375.00 target price on shares of Palo Alto Networks in a research report on Friday, August 16th. Piper Sandler lifted their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Rosenblatt Securities upped their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $375.79.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. 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 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Down 0.4 %

NASDAQ:PANW opened at $374.83 on Friday. The firm has a market cap of $121.37 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13. The company’s 50-day moving average price is $348.67 and its two-hundred day moving average price is $323.01. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $0.80 EPS. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

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.