Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by HBW Advisory Services LLC

HBW Advisory Services LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 958 shares of the network technology company’s stock after purchasing an additional 49 shares during the period. HBW Advisory Services LLC’s holdings in Palo Alto Networks were worth $327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PANW. Sunbelt Securities Inc. boosted its position in Palo Alto Networks by 91.0% during the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock worth $478,000 after acquiring an additional 802 shares during the last quarter. Jennison Associates LLC grew its position in shares of Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after purchasing an additional 198,078 shares during the period. Brookstone Capital Management increased its stake in Palo Alto Networks by 48.4% in the first quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after purchasing an additional 8,611 shares during the last quarter. Wealthspire Advisors LLC lifted its position in Palo Alto Networks by 1.7% during the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock worth $1,244,000 after buying an additional 75 shares during the period. Finally, Connectus Wealth LLC boosted its stake in Palo Alto Networks by 22.8% in the 4th quarter. Connectus Wealth LLC now owns 43,813 shares of the network technology company’s stock worth $12,920,000 after buying an additional 8,132 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PANW. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Truist Financial boosted their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Northland Securities increased their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 20th. Stifel Nicolaus lifted their price target on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a report on Monday, August 19th. Eleven investment 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. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.26.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now directly owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 395,732 shares of company stock valued at $130,785,557 in the last quarter. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

PANW opened at $342.36 on Friday. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $380.84. The stock has a market capitalization of $110.86 billion, a PE ratio of 49.76, a P/E/G ratio of 4.87 and a beta of 1.13. The firm’s fifty day moving average price is $337.94 and its 200 day moving average price is $317.14.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business posted $0.80 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal 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.