Pittenger & Anderson Inc. Has $8.40 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Pittenger & Anderson Inc. grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 366.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,582 shares of the network technology company’s stock after purchasing an additional 19,312 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Palo Alto Networks were worth $8,402,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks during the 1st quarter worth about $25,000. Capital Advisors Ltd. LLC lifted its position in shares of Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after purchasing an additional 41 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of 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 valued at $29,000 after purchasing an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its stake in shares of Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. increased its holdings in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock worth $89,383,077 over the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PANW. Deutsche Bank Aktiengesellschaft increased their price objective on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Bank of America raised their price target on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. BMO Capital Markets boosted their price objective on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Oppenheimer raised their target price on shares of Palo Alto Networks from $410.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Piper Sandler lifted their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Stock Up 0.1 %

NASDAQ PANW opened at $361.51 on Tuesday. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00. The firm’s 50 day moving average is $352.97 and its 200-day moving average is $330.32. The company has a market capitalization of $117.71 billion, a PE ratio of 49.81, a price-to-earnings-growth ratio of 5.26 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued 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. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 EPS. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current 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.