Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Parcion Private Wealth LLC

Parcion Private Wealth LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,520 shares of the network technology company’s stock after purchasing an additional 277 shares during the quarter. Parcion Private Wealth LLC’s holdings in Palo Alto Networks were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC grew its stake in shares of Palo Alto Networks by 91.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 5,520 shares of the network technology company’s stock worth $1,568,000 after purchasing an additional 2,638 shares in the last quarter. New England Research & Management Inc. bought a new position in Palo Alto Networks in the 1st quarter valued at about $291,000. Webster Bank N. A. increased its stake in Palo Alto Networks by 44.4% during the 1st quarter. Webster Bank N. A. now owns 143 shares of the network technology company’s stock valued at $41,000 after buying an additional 44 shares during the period. Toth Financial Advisory Corp raised its position in shares of Palo Alto Networks by 34.4% during the 1st quarter. Toth Financial Advisory Corp now owns 285 shares of the network technology company’s stock worth $81,000 after buying an additional 73 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Palo Alto Networks by 25.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,279 shares of the network technology company’s stock worth $3,489,000 after acquiring an additional 2,497 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock valued at $118,643,279 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PANW has been the topic of several recent analyst reports. Piper Sandler boosted their target price on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Bank of America boosted their price objective on Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. UBS Group raised their target price on Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Stifel Nicolaus boosted their price target on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada raised their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research report 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $376.82.

Palo Alto Networks Stock Up 0.5 %

PANW stock opened at $366.44 on Friday. The firm has a 50 day moving average of $351.26 and a two-hundred day moving average of $325.45. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00. The company has a market capitalization of $119.31 billion, a price-to-earnings ratio of 50.54, a P/E/G ratio of 5.45 and a beta of 1.13.

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

Palo Alto Networks Company 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.