Weatherly Asset Management L. P. Acquires 1,175 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Weatherly Asset Management L. P. increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,151 shares of the network technology company’s stock after acquiring an additional 1,175 shares during the period. Weatherly Asset Management L. P.’s holdings in Palo Alto Networks were worth $5,520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after purchasing an additional 1,002,239 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after buying an additional 3,249,594 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Palo Alto Networks by 8.5% in the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after buying an additional 255,060 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of 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 buying an additional 198,078 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of 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 acquiring an additional 114,742 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. DA Davidson raised their price target on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. JMP Securities reissued a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a report on Tuesday, August 20th. Finally, Truist Financial raised their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Eleven research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $378.49.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks 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 value 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 SEC, which is available through the SEC website. In related news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 315,252 shares of company stock valued at $107,138,877 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $362.64 on Friday. The firm has a fifty day moving average price of $352.69 and a 200 day moving average price of $329.01. The stock has a market cap of $118.08 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 5.21 and a beta of 1.13. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results 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. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 EPS. As a group, equities 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.