Waldron Private Wealth LLC Increases Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Waldron Private Wealth LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,060 shares of the network technology company’s stock after purchasing an additional 273 shares during the period. Waldron Private Wealth LLC’s holdings in Palo Alto Networks were worth $6,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PANW. Fisher Asset Management LLC grew its stake in shares of Palo Alto Networks by 7.2% during the 4th quarter. Fisher Asset Management LLC now owns 1,806 shares of the network technology company’s stock valued at $533,000 after acquiring an additional 121 shares during the period. Global Assets Advisory LLC bought a new position in shares of Palo Alto Networks in the first quarter worth approximately $9,368,000. Gateway Investment Advisers LLC increased its stake in shares of Palo Alto Networks by 11.4% in the first quarter. Gateway Investment Advisers LLC now owns 48,209 shares of the network technology company’s stock worth $13,698,000 after purchasing an additional 4,915 shares in the last quarter. Mechanics Bank Trust Department raised its position in shares of Palo Alto Networks by 15.6% during the 1st quarter. Mechanics Bank Trust Department now owns 3,828 shares of the network technology company’s stock valued at $1,088,000 after purchasing an additional 518 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of Palo Alto Networks by 233.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 10,760 shares of the network technology company’s stock valued at $3,057,000 after buying an additional 7,535 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated 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 directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value 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 approximately $370,926,027.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is owned by insiders.

Palo Alto Networks Stock Down 0.5 %

Shares of Palo Alto Networks stock traded down $1.94 during midday trading on Tuesday, hitting $376.47. The company had a trading volume of 782,321 shares, compared to its average volume of 4,011,037. The stock has a market cap of $121.90 billion, a price-to-earnings ratio of 54.48, a PEG ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00. The company has a fifty day simple moving average of $349.61 and a 200 day simple moving average of $324.19.

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, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. As a group, analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BTIG Research raised their price target on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. JMP Securities reissued a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 20th. Truist Financial increased their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Northland Securities boosted their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 20th. Finally, KeyCorp lifted their target price on Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a report on Friday. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $376.82.

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.