Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 183,600 shares of the network technology company’s stock after selling 760 shares during the quarter. Palo Alto Networks comprises about 1.6% of E. Ohman J or Asset Management AB’s investment portfolio, making the stock its 13th biggest position. E. Ohman J or Asset Management AB owned about 0.06% of Palo Alto Networks worth $62,754,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbour Trust & Investment Management Co boosted its position in shares of Palo Alto Networks by 7.3% in the third quarter. Harbour Trust & Investment Management Co now owns 19,666 shares of the network technology company’s stock worth $6,722,000 after acquiring an additional 1,330 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new position in Palo Alto Networks during the third quarter worth approximately $224,000. Spirit of America Management Corp NY boosted its holdings in shares of Palo Alto Networks by 4.1% in the 3rd quarter. Spirit of America Management Corp NY now owns 2,550 shares of the network technology company’s stock valued at $872,000 after purchasing an additional 100 shares during the last quarter. Dakota Wealth Management grew its stake in shares of Palo Alto Networks by 5.9% during the 3rd quarter. Dakota Wealth Management now owns 16,692 shares of the network technology company’s stock valued at $5,705,000 after buying an additional 931 shares during the period. Finally, Values First Advisors Inc. increased its holdings in shares of Palo Alto Networks by 21.0% during the 3rd quarter. Values First Advisors Inc. now owns 1,228 shares of the network technology company’s stock worth $420,000 after buying an additional 213 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Up 1.8 %

Shares of PANW opened at $364.58 on Friday. The firm has a market cap of $118.71 billion, a price-to-earnings ratio of 50.29, a PEG ratio of 5.45 and a beta of 1.13. The stock has a 50 day moving average of $350.84 and a 200-day moving average of $325.17. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of research reports. Piper Sandler boosted their price target on Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research report on Monday, August 19th. Finally, Citigroup raised their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.82.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the sale, the executive vice president now directly owns 1,187,567 shares in the company, valued at $377,373,165.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock worth $118,643,279 in the last 90 days. 3.30% of the stock is currently owned by company insiders.

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.