Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Community Financial Services Group LLC

Community Financial Services Group LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,839 shares of the network technology company’s stock after acquiring an additional 405 shares during the quarter. Palo Alto Networks comprises approximately 1.5% of Community Financial Services Group LLC’s portfolio, making the stock its 20th biggest holding. Community Financial Services Group LLC’s holdings in Palo Alto Networks were worth $7,123,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PANW. Sound Income Strategies LLC raised its holdings in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks in the 1st quarter worth about $25,000. First PREMIER Bank boosted its position in shares of Palo Alto Networks by 48.4% in the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after buying an additional 31 shares in the last quarter. Financial Synergies Wealth Advisors Inc. grew its stake in Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares during the last quarter. Finally, Cape Investment Advisory Inc. increased its holdings in Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 1,187,567 shares in the company, valued at $377,373,165.59. This represents 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 Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, 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 document filed with the SEC, which is available through this link. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Trading Up 1.0 %

PANW stock traded up $3.58 during trading on Monday, reaching $378.41. The stock had a trading volume of 2,178,646 shares, compared to its average volume of 4,027,030. The firm has a fifty day moving average price of $348.67 and a 200 day moving average price of $323.39. The company has a market capitalization of $122.53 billion, a P/E ratio of 54.48, a PEG ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly 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 analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. Sell-side analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analysts Set New Price Targets

PANW has been the subject of a number of recent research reports. Truist Financial raised their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Wedbush reiterated an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. Oppenheimer upped their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Finally, TD Cowen lifted their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $375.79.

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.