Spartan Wealth Advisory Services LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 39,813 shares of the network technology company’s stock, valued at approximately $6,383,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new position in shares of Palo Alto Networks in the 2nd quarter valued at $25,000. Steph & Co. boosted 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 acquiring an additional 67 shares during the last quarter. Knuff & Co LLC acquired a new position in Palo Alto Networks in the fourth quarter valued at $26,000. Sittner & Nelson LLC grew its position in Palo Alto Networks by 73.8% during the fourth quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 62 shares during the period. Finally, Luken Investment Analytics LLC increased its stake in Palo Alto Networks by 196.2% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.
Palo Alto Networks Stock Performance
Shares of NASDAQ:PANW opened at $358.68 on Friday. The company has a market cap of $292.32 billion, a P/E ratio of 294.00, a PEG ratio of 13.32 and a beta of 0.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $368.80. The business’s 50-day simple moving average is $290.04 and its 200 day simple moving average is $212.30.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on PANW shares. Truist Financial lifted their price objective on Palo Alto Networks from $275.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. BMO Capital Markets lifted their price target on shares of Palo Alto Networks from $270.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. William Blair reiterated an “outperform” rating on shares of Palo Alto Networks in a research note on Tuesday, June 16th. Evercore reissued an “outperform” rating and issued a $415.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, July 8th. Finally, Barclays reissued an “overweight” rating and issued a $315.00 target price (up from $220.00) on shares of Palo Alto Networks in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, forty have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $327.74.
View Our Latest Stock Analysis on PANW
Insider Buying and Selling at Palo Alto Networks
In related news, EVP Lee Klarich sold 62,904 shares of the firm’s stock in a transaction 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Key sold 7,500 shares of Palo Alto Networks stock in a transaction on Friday, June 12th. The stock was sold at an average price of $279.24, for a total transaction of $2,094,300.00. Following the sale, the director directly owned 12,500 shares in the company, valued at $3,490,500. This trade represents a 37.50% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 101,239 shares of company stock valued at $27,174,360. 1.40% of the stock is owned by company insiders.
About Palo Alto Networks
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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