Palo Alto Networks, Inc. (NASDAQ:PANW) Holdings Lifted by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,662 shares of the network technology company’s stock after buying an additional 1,112 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Palo Alto Networks were worth $3,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PANW. Vanguard Group Inc. boosted its position in Palo Alto Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock valued at $8,129,800,000 after purchasing an additional 1,058,127 shares during the last quarter. Axiom Investors LLC DE boosted its position in Palo Alto Networks by 359.3% during the fourth quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after purchasing an additional 749,199 shares during the last quarter. Swedbank AB acquired a new stake in Palo Alto Networks during the first quarter valued at $177,933,000. 1832 Asset Management L.P. boosted its position in Palo Alto Networks by 63.8% during the fourth quarter. 1832 Asset Management L.P. now owns 640,755 shares of the network technology company’s stock valued at $188,946,000 after purchasing an additional 249,455 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Palo Alto Networks by 7.6% during 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 last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now directly owns 24,982 shares in the company, valued at approximately $8,443,916. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the transaction, the director now directly owns 31,517 shares in the company, valued at approximately $10,983,359.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 464,075 shares of company stock worth $154,029,567. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW opened at $337.93 on Wednesday. The company has a market capitalization of $110.03 billion, a P/E ratio of 49.12, a PEG ratio of 5.03 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 business’s 50 day simple moving average is $336.41 and its 200-day simple moving average is $312.63.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (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 the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 EPS. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on PANW. Susquehanna lifted their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research report on Thursday, September 5th. Daiwa America raised Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Oppenheimer boosted their price target on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. UBS Group boosted their price target on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Argus lifted their price objective on Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Thirteen 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $366.08.

Palo Alto Networks 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.