Fairscale Capital LLC Invests $309,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fairscale Capital LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 914 shares of the network technology company’s stock, valued at approximately $309,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position 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 valued at $8,118,190,000 after purchasing an additional 1,002,239 shares during the last quarter. Jennison Associates LLC boosted its holdings 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 worth $799,792,000 after buying an additional 198,078 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Palo Alto Networks by 5.4% during the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock valued at $757,321,000 after buying an additional 114,742 shares during the period. William Blair Investment Management LLC increased its holdings 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 worth $339,183,000 after buying an additional 73,922 shares during the last quarter. Finally, Axiom Investors LLC DE raised its position in Palo Alto Networks by 359.3% in the fourth quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock worth $282,406,000 after acquiring an additional 749,199 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In related news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at $8,443,916. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares in the company, valued at $6,452,097.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 464,075 shares of company stock worth $154,029,567. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $340.12 on Friday. The stock has a market capitalization of $110.13 billion, a P/E ratio of 49.44, a PEG ratio of 5.04 and a beta of 1.13. Palo Alto Networks, Inc. has a one year low of $224.64 and a one year high of $380.84. The firm’s 50 day simple moving average is $336.39 and its two-hundred day simple moving average is $313.33.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PANW. Truist Financial raised their price target 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. Wells Fargo & Company increased their price objective on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Piper Sandler lifted their price objective on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Sanford C. Bernstein upped their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $366.08.

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.