Stephens Investment Management Group LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,144 shares of the network technology company's stock after purchasing an additional 2,474 shares during the quarter. Stephens Investment Management Group LLC's holdings in Palo Alto Networks were worth $13,379,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Kathmere Capital Management LLC increased its stake in Palo Alto Networks by 3.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company's stock worth $312,000 after acquiring an additional 30 shares during the last quarter. FLC Capital Advisors increased its stake in Palo Alto Networks by 0.7% in the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company's stock worth $1,379,000 after acquiring an additional 30 shares during the last quarter. Cromwell Holdings LLC increased its stake in Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company's stock worth $357,000 after acquiring an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in Palo Alto Networks by 9.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company's stock worth $119,000 after acquiring an additional 30 shares during the last quarter. Finally, Cascade Investment Group Inc. increased its stake in Palo Alto Networks by 2.9% in the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company's stock worth $376,000 after acquiring an additional 31 shares during the last quarter. Institutional investors own 79.82% of the company's stock.
In other news, CEO Nikesh Arora sold 66,666 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the transaction, the chief executive officer now directly owns 639,994 shares of the company's stock, valued at approximately $219,505,142.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the company's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 66,666 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the completion of the sale, the chief executive officer now owns 639,994 shares in the company, valued at $219,505,142.12. The trade was 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. Company insiders own 3.30% of the company's stock.
Shares of NASDAQ:PANW opened at $362.64 on Friday. The business's 50-day moving average is $352.69 and its 200 day moving average is $329.01. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $384.00. The firm has a market capitalization of $118.08 billion, a P/E ratio of 50.02, a P/E/G ratio of 5.21 and a beta of 1.13.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion for 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%. The company's revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.80 earnings per share. On average, analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.
A number of analysts have issued reports on the company. Piper Sandler lifted their price objective on Palo Alto Networks from $300.00 to $330.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Robert W. Baird lifted their target price on Palo Alto Networks from $360.00 to $375.00 and gave the stock an "outperform" rating in a report on Friday, August 16th. Wedbush reiterated an "outperform" rating and issued a $375.00 target price on shares of Palo Alto Networks in a report on Friday, August 16th. BMO Capital Markets lifted their target price on Palo Alto Networks from $334.00 to $390.00 and gave the stock an "outperform" rating in a report on Tuesday, August 20th. Finally, BTIG Research lifted their target price on Palo Alto Networks from $366.00 to $395.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks presently has an average rating of "Moderate Buy" and a consensus price target of $378.49.
Get Our Latest Stock Analysis on Palo Alto Networks
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.
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