Union Savings Bank bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,144 shares of the network technology company’s stock, valued at approximately $395,000.
Several other large investors have also recently made changes to their positions in PANW. Darwin Wealth Management LLC acquired a new stake in Palo Alto Networks during the second quarter valued at $25,000. Steph & Co. increased its holdings in Palo Alto Networks by 88.2% in the fourth quarter. Steph & Co. now owns 143 shares of the network technology company’s stock valued at $26,000 after buying an additional 67 shares in the last quarter. Knuff & Co LLC acquired a new position in shares of Palo Alto Networks in the fourth quarter worth about $26,000. Sittner & Nelson LLC raised its position in shares of Palo Alto Networks by 73.8% in the fourth quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company’s stock worth $27,000 after acquiring an additional 62 shares during the period. Finally, Luken Investment Analytics LLC boosted its stake in shares of Palo Alto Networks by 196.2% during the 4th quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company’s stock worth $28,000 after acquiring an additional 102 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.
Palo Alto Networks Price Performance
Shares of PANW opened at $287.78 on Friday. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $302.95. The company has a market capitalization of $234.54 billion, a PE ratio of 235.89, a price-to-earnings-growth ratio of 10.69 and a beta of 0.94. The stock has a fifty day simple moving average of $228.24 and a two-hundred day simple moving average of $192.65. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on PANW. Jefferies Financial Group set a $335.00 target price on Palo Alto Networks and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Benchmark upped their price target on Palo Alto Networks from $270.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. William Blair reiterated an “outperform” rating on shares of Palo Alto Networks in a research report on Tuesday. HSBC raised their price objective on Palo Alto Networks from $114.00 to $207.00 in a report on Thursday, June 4th. Finally, Truist Financial increased their target price on Palo Alto Networks from $275.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $306.59.
Read Our Latest Research Report on PANW
Insider Activity at Palo Alto Networks
In other Palo Alto Networks news, Director John P. Key sold 7,500 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $279.24, for a total value of $2,094,300.00. Following the transaction, the director directly owned 12,500 shares in the company, valued at $3,490,500. The trade was a 37.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 62,904 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $258.65, for a total transaction of $16,270,119.60. Following the completion of the sale, the executive vice president directly owned 235,983 shares of the company’s stock, valued at approximately $61,037,002.95. This trade represents a 21.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 101,044 shares of company stock valued at $26,022,722 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.
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.
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