Palo Alto Networks, Inc. (NASDAQ:PANW) Position Decreased by STF Management LP

STF Management LP lowered its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,102 shares of the network technology company’s stock after selling 246 shares during the period. STF Management LP’s holdings in Palo Alto Networks were worth $1,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in shares of Palo Alto Networks in the first quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Ulland Investment Advisors LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter valued at $30,000. Finally, Central Bank & Trust Co. raised its holdings in Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Up 0.5 %

Shares of PANW stock opened at $346.90 on Monday. The company has a market capitalization of $112.95 billion, a P/E ratio of 50.42, a P/E/G ratio of 4.98 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $224.64 and a 12-month high of $380.84. The firm has a 50-day moving average price of $336.21 and a 200 day moving average price of $312.13.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, research analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares in the company, valued at $6,452,097.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the sale, the president now directly owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the sale, the director now directly owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 464,075 shares of company stock valued at $154,029,567. 3.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on PANW. Northland Securities raised their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a report on Tuesday, August 20th. Macquarie lifted their price objective on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Truist Financial increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Argus lifted their price target on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Finally, Royal Bank of Canada increased their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Thirteen equities research 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $366.08.

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.