Chung Wu Investment Group LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,000 shares of the network technology company’s stock, valued at approximately $205,000.
Several other large investors have also recently added to or reduced their stakes in PANW. St. Clair Advisors LLC increased its holdings in Palo Alto Networks by 0.3% during the 2nd quarter. St. Clair Advisors LLC now owns 15,800 shares of the network technology company’s stock valued at $3,233,000 after purchasing an additional 50 shares in the last quarter. Csenge Advisory Group grew its holdings in shares of Palo Alto Networks by 2.4% during the first quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company’s stock worth $381,000 after purchasing an additional 53 shares during the last quarter. TFG Advisers LLC increased its stake in shares of Palo Alto Networks by 1.1% in the second quarter. TFG Advisers LLC now owns 4,668 shares of the network technology company’s stock valued at $955,000 after buying an additional 53 shares in the last quarter. GSG Advisors LLC raised its holdings in shares of Palo Alto Networks by 0.4% in the first quarter. GSG Advisors LLC now owns 12,450 shares of the network technology company’s stock valued at $2,154,000 after buying an additional 54 shares during the last quarter. Finally, SYM FINANCIAL Corp lifted its position in Palo Alto Networks by 1.4% during the 1st quarter. SYM FINANCIAL Corp now owns 4,047 shares of the network technology company’s stock worth $691,000 after buying an additional 55 shares in the last quarter. 79.82% of the stock is owned by institutional investors.
Palo Alto Networks Stock Down 1.0%
PANW stock opened at $207.19 on Monday. Palo Alto Networks, Inc. has a 52 week low of $144.15 and a 52 week high of $212.10. The company has a market cap of $138.59 billion, a PE ratio of 129.09, a price-to-earnings-growth ratio of 4.93 and a beta of 0.98. The business has a 50-day simple moving average of $190.20 and a 200 day simple moving average of $188.24.
Insider Transactions at Palo Alto Networks
In related news, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $202.16, for a total value of $141,512.00. Following the sale, the chief accounting officer owned 32,474 shares of the company’s stock, valued at $6,564,943.84. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $172.80, for a total value of $17,280,000.00. Following the transaction, the executive vice president directly owned 3,143,516 shares in the company, valued at $543,199,564.80. The trade was a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,194,356 shares of company stock valued at $235,092,941. Corporate insiders own 2.50% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have weighed in on PANW shares. Stephens restated an “equal weight” rating and issued a $205.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, August 19th. New Street Research raised their price target on shares of Palo Alto Networks from $235.00 to $240.00 and gave the company a “buy” rating in a report on Friday, September 12th. Tigress Financial initiated coverage on Palo Alto Networks in a report on Friday, September 26th. They set a “buy” rating and a $245.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research report on Friday, August 15th. Finally, Barclays reiterated an “overweight” rating and issued a $215.00 price objective (up from $210.00) on shares of Palo Alto Networks in a research report on Tuesday, August 19th. Thirty research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $214.64.
Get Our Latest Research Report on Palo Alto Networks
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.
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