Jones Financial Companies Lllp Has $29.07 Million Position in Palo Alto Networks, Inc. $PANW

Jones Financial Companies Lllp raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 27.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,638 shares of the network technology company’s stock after purchasing an additional 31,079 shares during the period. Jones Financial Companies Lllp’s holdings in Palo Alto Networks were worth $29,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. Exchange Traded Concepts LLC lifted its position in Palo Alto Networks by 29.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 32,155 shares of the network technology company’s stock valued at $6,547,000 after acquiring an additional 7,301 shares in the last quarter. Silver Oak Securities Incorporated increased its holdings in Palo Alto Networks by 240.1% during the 3rd quarter. Silver Oak Securities Incorporated now owns 11,732 shares of the network technology company’s stock worth $2,389,000 after purchasing an additional 8,282 shares in the last quarter. GoalVest Advisory LLC raised its stake in shares of Palo Alto Networks by 1,248.9% in the third quarter. GoalVest Advisory LLC now owns 10,899 shares of the network technology company’s stock worth $2,219,000 after purchasing an additional 10,091 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Palo Alto Networks by 7.9% in the second quarter. Schroder Investment Management Group now owns 2,234,551 shares of the network technology company’s stock valued at $457,279,000 after purchasing an additional 163,718 shares in the last quarter. Finally, Richmond Investment Services LLC boosted its position in shares of Palo Alto Networks by 87.2% during the second quarter. Richmond Investment Services LLC now owns 3,286 shares of the network technology company’s stock valued at $672,000 after buying an additional 1,531 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Down 5.2%

Shares of NASDAQ PANW opened at $166.24 on Wednesday. The firm has a market cap of $115.87 billion, a price-to-earnings ratio of 105.22, a price-to-earnings-growth ratio of 4.18 and a beta of 0.75. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $223.61. The stock has a fifty day simple moving average of $186.65 and a two-hundred day simple moving average of $194.25.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 earnings per share. Analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $191.91, for a total value of $23,177,738.34. Following the completion of the transaction, the executive vice president directly owned 327,645 shares in the company, valued at approximately $62,878,351.95. The trade was a 26.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 800 shares of Palo Alto Networks stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $184.81, for a total value of $147,848.00. Following the transaction, the chief accounting officer directly owned 46,005 shares of the company’s stock, valued at $8,502,184.05. The trade was a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 260,542 shares of company stock valued at $49,910,995 over the last three months. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PANW shares. Wedbush reissued an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a research report on Thursday, November 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Palo Alto Networks in a report on Monday, November 24th. The Goldman Sachs Group reissued a “buy” rating and set a $240.00 price target (up from $236.00) on shares of Palo Alto Networks in a research report on Thursday, November 20th. BMO Capital Markets upped their price objective on shares of Palo Alto Networks from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Finally, Wolfe Research increased their price objective on shares of Palo Alto Networks from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. Thirty-one investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $229.09.

Palo Alto Networks 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.