JFS Wealth Advisors LLC Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

JFS Wealth Advisors LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 613.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 257 shares of the network technology company’s stock after acquiring an additional 221 shares during the period. JFS Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $88,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC raised its holdings in shares of Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after buying an additional 3,249,594 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after buying an additional 1,002,239 shares in the last quarter. Swedbank AB purchased a new position in shares of Palo Alto Networks during the 1st quarter valued at about $177,933,000. Altshuler Shaham Ltd raised its holdings in shares of Palo Alto Networks by 444,100.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after buying an additional 444,100 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after buying an additional 255,060 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the company’s 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 completion of the sale, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % 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. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. This represents a 0.00 % 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, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 315,252 shares of company stock worth $107,138,877 over the last quarter. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Price Performance

PANW stock opened at $362.64 on Friday. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. The business has a fifty day moving average price of $352.69 and a 200-day moving average price of $329.01. The stock has a market capitalization of $118.08 billion, a P/E ratio of 50.02, a P/E/G ratio of 5.21 and a beta of 1.13.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PANW shares. Cantor Fitzgerald started coverage on Palo Alto Networks in a report on Thursday. They set an “overweight” rating and a $415.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price target on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Piper Sandler raised their price target on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Oppenheimer raised their price target on Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, BTIG Research raised their price target on Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $378.49.

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.