Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Trifecta Capital Advisors LLC

by · The Cerbat Gem

Trifecta Capital Advisors LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,630 shares of the network technology company’s stock after acquiring an additional 796 shares during the quarter. Palo Alto Networks comprises about 2.0% of Trifecta Capital Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Trifecta Capital Advisors LLC’s holdings in Palo Alto Networks were worth $9,786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Palo Alto Networks by 3.6% during the first quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after purchasing an additional 1,002,239 shares during the period. Swedbank AB purchased a new position in Palo Alto Networks in the 1st quarter worth about $177,933,000. Altshuler Shaham Ltd raised its holdings in 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 worth $150,520,000 after buying an additional 444,100 shares during the period. Legal & General Group Plc lifted its stake in Palo Alto Networks by 8.5% during the second 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. Finally, Jennison Associates LLC boosted its holdings in shares of Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after buying an additional 198,078 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PANW. Redburn Atlantic lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their price target for the company from $350.00 to $325.00 in a report on Thursday, July 18th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. KeyCorp raised their target price on Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group upped their price target on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Citigroup raised their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.28.

View Our Latest Stock Analysis on PANW

Insiders Place Their Bets

In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other 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 value of $30,022,832.14. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the firm’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 value of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Up 0.8 %

PANW opened at $376.15 on Friday. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $380.84. The business has a 50 day moving average of $347.80 and a 200-day moving average of $322.01. The stock has a market capitalization of $121.80 billion, a price-to-earnings ratio of 54.67, a P/E/G ratio of 5.26 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.80 EPS. Equities analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Palo Alto Networks Company Profile

(Free Report)

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.

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