Themes Management Co LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,789 shares of the network technology company’s stock, valued at approximately $287,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new position in Palo Alto Networks in the 2nd quarter worth about $25,000. Steph & Co. increased its stake in Palo Alto Networks by 88.2% during the 4th quarter. Steph & Co. now owns 143 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 67 shares in the last quarter. Knuff & Co LLC bought a new stake in Palo Alto Networks during the 4th quarter valued at about $26,000. Sittner & Nelson LLC raised its holdings in 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 buying an additional 62 shares during the last quarter. Finally, Luken Investment Analytics LLC raised its holdings in Palo Alto Networks by 196.2% in the fourth quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company’s stock worth $28,000 after buying an additional 102 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.
Palo Alto Networks Price Performance
Shares of Palo Alto Networks stock opened at $323.79 on Monday. Palo Alto Networks, Inc. has a twelve month low of $139.57 and a twelve month high of $368.80. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $300.79 and its 200 day moving average is $217.83. The company has a market cap of $263.89 billion, a price-to-earnings ratio of 265.40, a price-to-earnings-growth ratio of 12.02 and a beta of 0.91.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on PANW shares. BNP Paribas Exane increased their price target on shares of Palo Alto Networks from $330.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. UBS Group set a $300.00 price objective on shares of Palo Alto Networks and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Cantor Fitzgerald set a $340.00 price objective on Palo Alto Networks and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Citigroup reiterated a “buy” rating and set a $400.00 target price (up from $340.00) on shares of Palo Alto Networks in a research note on Monday, July 13th. Finally, Needham & Company LLC lifted their target price on Palo Alto Networks from $350.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, forty have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $331.48.
Get Our Latest Research Report on Palo Alto Networks
Insider Buying and Selling
In related news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president owned 145,250 shares in the company, valued at approximately $42,058,590. This represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aparna Bawa sold 290 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $348.74, for a total value of $101,134.60. Following the completion of the transaction, the director directly owned 6,437 shares in the company, valued at approximately $2,244,839.38. This represents a 4.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 101,239 shares of company stock valued at $27,174,360 over the last ninety days. 1.40% of the stock is owned by insiders.
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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