VectorGlobal IAG Inc. bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,937 shares of the network technology company’s stock, valued at approximately $1,593,000.
Several other institutional investors also recently modified their holdings of PANW. Darwin Wealth Management LLC acquired a new stake in shares of Palo Alto Networks in the 2nd quarter valued at approximately $25,000. Steph & Co. boosted 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 worth $26,000 after acquiring an additional 67 shares during the last quarter. Knuff & Co LLC acquired a new position in Palo Alto Networks during the fourth quarter valued at approximately $26,000. Sittner & Nelson LLC grew its holdings 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 purchasing an additional 62 shares during the period. Finally, Luken Investment Analytics LLC increased its stake 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 valued at $28,000 after purchasing 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 Stock Performance
Shares of NASDAQ:PANW opened at $331.83 on Monday. The firm has a market cap of $270.44 billion, a price-to-earnings ratio of 271.99, a PEG ratio of 12.32 and a beta of 0.91. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $368.80. The company’s fifty day simple moving average is $308.00 and its 200 day simple moving average is $222.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04.
Insider Buying and Selling
In related news, CAO Josh D. Paul sold 900 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $345.00, for a total value of $310,500.00. Following the sale, the chief accounting officer owned 79,644 shares of the company’s stock, valued at approximately $27,477,180. This trade represents a 1.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $289.56, for a total value of $1,447,800.00. Following the completion of the sale, the executive vice president directly owned 145,250 shares in the company, valued at approximately $42,058,590. This represents a 3.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 101,239 shares of company stock valued at $27,174,360. Corporate insiders own 1.40% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on PANW shares. Weiss Ratings lowered shares of Palo Alto Networks from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Evercore reissued an “outperform” rating and issued a $415.00 price target on shares of Palo Alto Networks in a report on Wednesday, July 8th. Piper Sandler restated an “overweight” rating and issued a $345.00 price objective (up from $265.00) on shares of Palo Alto Networks in a research report on Wednesday, June 3rd. BMO Capital Markets raised their price objective on Palo Alto Networks from $270.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Rosenblatt Securities boosted their target price on Palo Alto Networks from $275.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $331.48.
View Our Latest Research Report on PANW
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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