657 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Acquired by Shulman DeMeo Asset Management LLC

Shulman DeMeo Asset Management LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 657 shares of the network technology company’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PANW. Vanguard Group Inc. grew its stake in 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 acquiring an additional 1,002,239 shares during the period. Swedbank AB purchased a new stake in shares of Palo Alto Networks during the 1st quarter valued at $177,933,000. Altshuler Shaham Ltd grew its stake in shares of Palo Alto Networks by 444,100.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after buying an additional 444,100 shares during the period. Legal & General Group Plc grew its stake in shares of Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after buying an additional 255,060 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Palo Alto Networks by 7.6% during the 1st 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 period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the transaction, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,452 shares of company stock worth $118,643,279 in the last 90 days. 3.30% of the stock is owned by insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded up $0.53 during mid-day trading on Tuesday, hitting $374.44. The stock had a trading volume of 2,730,521 shares, compared to its average volume of 4,061,453. The company has a market cap of $121.24 billion, a PE ratio of 54.06, a P/E/G ratio of 5.26 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $380.84. The company’s 50 day moving average is $343.80 and its 200-day moving average is $320.63.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PANW. Stifel Nicolaus boosted their price objective on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Piper Sandler upped their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Oppenheimer upped their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group upped their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Eleven analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $372.28.

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.