Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Grassi Investment Management

Grassi Investment Management raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,030 shares of the network technology company’s stock after purchasing an additional 150 shares during the period. Grassi Investment Management’s holdings in Palo Alto Networks were worth $1,036,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of Palo Alto Networks by 34,318.2% in the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after acquiring an additional 3,249,594 shares during the period. Vanguard Group Inc. lifted its stake in shares of Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after acquiring an additional 1,002,239 shares during the period. Swedbank AB acquired a new stake in shares of Palo Alto Networks in the 1st quarter worth approximately $177,933,000. Altshuler Shaham Ltd lifted its stake in shares of Palo Alto Networks by 444,100.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after acquiring an additional 444,100 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Palo Alto Networks by 8.5% in the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after acquiring an additional 255,060 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Up 1.0 %

PANW stock opened at $361.62 on Thursday. The company has a market capitalization of $117.09 billion, a price-to-earnings ratio of 52.06, a P/E/G ratio of 5.43 and a beta of 1.13. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00. The firm has a 50 day moving average of $350.84 and a two-hundred day moving average of $325.17.

Palo Alto Networks (NASDAQ:PANW) last posted 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 the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, research analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on PANW shares. Wells Fargo & Company boosted their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. UBS Group boosted their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. The Goldman Sachs Group boosted their target price on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. TD Cowen boosted their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Piper Sandler boosted their target price on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $376.82.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were 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 directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. 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 ninety days. Corporate insiders own 3.30% of the company’s stock.

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.