AAFMAA Wealth Management & Trust LLC Boosts Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

AAFMAA Wealth Management & Trust LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,352 shares of the network technology company’s stock after purchasing an additional 402 shares during the period. AAFMAA Wealth Management & Trust LLC’s holdings in Palo Alto Networks were worth $1,488,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Palo Alto Networks by 3.6% in the first 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 in the 1st quarter worth about $177,933,000. Altshuler Shaham Ltd boosted 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 purchasing an additional 444,100 shares in the last quarter. Legal & General Group Plc increased its position in shares of Palo Alto Networks by 8.5% during the second 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 raised its stake in 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 worth $799,792,000 after buying an additional 198,078 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 0.3 %

PANW opened at $373.23 on Thursday. The company has a market capitalization of $120.85 billion, a PE ratio of 54.25, a price-to-earnings-growth ratio of 5.26 and a beta of 1.13. The firm has a 50-day simple moving average of $346.63 and a two-hundred day simple moving average of $321.63. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The company 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%. The firm’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. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the transaction, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Thursday, August 1st. The stock was 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 directly owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. 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 valued at $118,643,279 over the last 90 days. 3.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PANW. Deutsche Bank Aktiengesellschaft upped their target price on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. BTIG Research increased their price objective on Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Barclays raised their price objective on Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. UBS Group upped their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, KeyCorp lifted their price target on shares of Palo Alto Networks from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock 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.