Hara Capital LLC Invests $108,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Hara Capital LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 315 shares of the network technology company’s stock, valued at approximately $108,000.

Several other institutional investors have also modified their holdings of PANW. International Assets Investment Management LLC grew its position in shares of Palo Alto Networks by 34,318.2% during 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 acquiring an additional 3,249,594 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 1,002,239 shares during the period. Swedbank AB acquired a new stake in Palo Alto Networks in the first quarter worth about $177,933,000. Altshuler Shaham Ltd lifted its holdings in Palo Alto Networks by 444,100.0% in the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after purchasing an additional 444,100 shares during the period. Finally, Congress Asset Management Co. acquired a new stake in Palo Alto Networks in the third quarter worth about $94,875,000. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

PANW has been the subject of several research analyst reports. Truist Financial upped their price objective 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. Royal Bank of Canada upped their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Bank of America upped their price objective on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Morgan Stanley upped their price objective on shares of Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, KeyCorp upped their price target on shares of Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $378.49.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. 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 available through the SEC website. In other news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,252 shares of company stock worth $89,383,077. Insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $387.00 on Friday. The stock’s 50 day moving average price is $353.98 and its 200 day moving average price is $331.32. Palo Alto Networks, Inc. has a 52 week low of $234.15 and a 52 week high of $387.21. The company has a market capitalization of $126.01 billion, a P/E ratio of 53.38, a P/E/G ratio of 5.23 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

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.