Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Burr Financial Services LLC

Burr Financial Services LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,147 shares of the network technology company’s stock after selling 282 shares during the quarter. Palo Alto Networks comprises approximately 6.1% of Burr Financial Services LLC’s holdings, making the stock its 5th largest position. Burr Financial Services LLC’s holdings in Palo Alto Networks were worth $8,595,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PANW. Alpha Cubed Investments LLC raised its holdings in shares of Palo Alto Networks by 16.4% in the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after buying an additional 32,626 shares in the last quarter. Jennison Associates LLC increased 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 acquiring an additional 198,078 shares during the last quarter. Wealthspire Advisors LLC increased its position in shares of Palo Alto Networks by 1.7% in the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after acquiring an additional 75 shares during the last quarter. Handelsbanken Fonder AB increased its position in Palo Alto Networks by 3.8% during the third quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock worth $67,232,000 after buying an additional 7,291 shares during the last quarter. Finally, Parsons Capital Management Inc. RI boosted its holdings in shares of Palo Alto Networks by 4.5% during the second quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock worth $914,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Ratings Changes

PANW has been the topic of several research reports. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 20th. Piper Sandler increased their price target on Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. UBS Group boosted their price target on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC upped their price target on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Bank of America raised their price objective on shares of Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $376.82.

Palo Alto Networks Trading Down 1.6 %

Shares of Palo Alto Networks stock opened at $359.51 on Thursday. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00. The stock’s fifty day simple moving average is $352.23 and its 200 day simple moving average is $328.16. The company has a market capitalization of $117.06 billion, a PE ratio of 49.59, a PEG ratio of 5.31 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations 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 revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 earnings per share. Analysts predict that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction 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 transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 315,252 shares of company stock valued at $107,138,877. 3.30% of the stock is currently owned by corporate insiders.

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.