Nvest Financial LLC bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 2,825 shares of the network technology company’s stock, valued at approximately $453,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC grew its position in Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock valued at $1,230,000 after acquiring an additional 4,031 shares in the last quarter. Bison Wealth LLC lifted its position in shares of Palo Alto Networks by 169.1% during the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock worth $948,000 after purchasing an additional 3,275 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Palo Alto Networks by 66.3% during the second quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock worth $713,000 after purchasing an additional 1,389 shares in the last quarter. Osterweis Capital Management Inc. boosted its stake in shares of Palo Alto Networks by 11,100.0% in the second quarter. Osterweis Capital Management Inc. now owns 560 shares of the network technology company’s stock valued at $115,000 after purchasing an additional 555 shares during the period. Finally, Main Street Financial Solutions LLC boosted its stake in shares of Palo Alto Networks by 6.0% in the second quarter. Main Street Financial Solutions LLC now owns 4,398 shares of the network technology company’s stock valued at $900,000 after purchasing an additional 249 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.
Palo Alto Networks Stock Performance
NASDAQ PANW opened at $348.06 on Monday. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $358.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $283.67 billion, a price-to-earnings ratio of 285.30, a price-to-earnings-growth ratio of 12.92 and a beta of 0.91. The company’s fifty day moving average price is $258.43 and its two-hundred day moving average price is $201.50.
Insiders Place Their Bets
In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $289.56, for a total transaction of $1,447,800.00. Following the sale, the executive vice president owned 145,250 shares in the company, valued at $42,058,590. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 62,904 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $258.65, for a total value of $16,270,119.60. Following the transaction, the executive vice president directly owned 235,983 shares in the company, valued at approximately $61,037,002.95. This represents a 21.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 102,111 shares of company stock valued at $27,204,024. 1.40% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
PANW has been the topic of several analyst reports. Jefferies Financial Group set a $335.00 price target on shares of Palo Alto Networks and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Needham & Company LLC raised their target price on Palo Alto Networks from $200.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Rosenblatt Securities lifted their target price on Palo Alto Networks from $275.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. BNP Paribas Exane boosted their price target on Palo Alto Networks from $330.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Finally, Argus increased their price target on Palo Alto Networks from $222.00 to $320.00 in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.15.
Get Our Latest Analysis on Palo Alto Networks
Palo Alto Networks Company Profile
Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.
The company’s product portfolio includes next?generation firewalls as a core on?premises capability, alongside cloud?delivered security services and software for securing public and private clouds.
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