Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 20.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,412 shares of the network technology company’s stock after purchasing an additional 5,482 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Palo Alto Networks were worth $10,884,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PANW. Aveo Capital Partners LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth about $212,000. Gryphon Financial Partners LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth about $336,000. Dynamic Technology Lab Private Ltd acquired a new position in Palo Alto Networks in the fourth quarter valued at approximately $840,000. PNC Financial Services Group Inc. lifted its holdings in Palo Alto Networks by 10.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 65,572 shares of the network technology company’s stock valued at $19,336,000 after acquiring an additional 6,217 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in Palo Alto Networks by 92.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,903 shares of the network technology company’s stock valued at $1,151,000 after acquiring an additional 1,877 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PANW. The Goldman Sachs Group boosted their price target on Palo Alto Networks from $330.00 to $376.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Piper Sandler boosted their price target on Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. BMO Capital Markets boosted their price target on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Evercore ISI boosted their price target on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, Oppenheimer boosted their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Thirteen 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $366.08.

Palo Alto Networks Trading Down 2.4 %

Palo Alto Networks stock opened at $337.93 on Wednesday. The stock has a 50 day moving average of $336.41 and a two-hundred day moving average of $312.63. The stock has a market capitalization of $110.03 billion, a price-to-earnings ratio of 49.12, a PEG ratio of 5.03 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $224.64 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating 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 firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the business posted $0.80 EPS. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts predict that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction on 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 transaction, the president now owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, 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 transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The shares were 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 of the company’s stock, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. Insiders sold 464,075 shares of company stock valued at $154,029,567 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.

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.