Palo Alto Networks, Inc. (NASDAQ:PANW) Position Increased by Bogart Wealth LLC

Bogart Wealth LLC increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 36,937 shares of the network technology company’s stock after buying an additional 338 shares during the period. Bogart Wealth LLC’s holdings in Palo Alto Networks were worth $12,625,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PANW. Kathmere Capital Management LLC lifted its holdings in shares of Palo Alto Networks by 3.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares during the last quarter. FLC Capital Advisors lifted its position in Palo Alto Networks by 0.7% in the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after purchasing an additional 30 shares during the last quarter. Cascade Investment Group Inc. grew its position in Palo Alto Networks by 2.9% in the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after purchasing an additional 31 shares during the last quarter. Herbst Group LLC grew its position in Palo Alto Networks by 0.3% in the 3rd quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock worth $3,313,000 after purchasing an additional 31 shares during the last quarter. Finally, First PREMIER Bank raised its holdings in shares of Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after buying an additional 31 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Piper Sandler lifted their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Scotiabank boosted their price target on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $376.82.

Palo Alto Networks Stock Up 1.3 %

PANW stock traded up $4.48 during trading hours on Thursday, hitting $362.67. The company’s stock had a trading volume of 653,255 shares, compared to its average volume of 3,992,224. The stock has a 50 day moving average price of $350.84 and a two-hundred day moving average price of $325.17. 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 $117.43 billion, a PE ratio of 52.88, a price-to-earnings-growth ratio of 5.43 and a beta of 1.13.

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. 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 for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business posted $0.80 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Sell-side analysts expect that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction dated 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 in the company, valued at $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 is available at the SEC website. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated 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 owns 24,782 shares in the company, valued at $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,452 shares of company stock valued at $118,643,279. 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.