Palo Alto Networks, Inc. $PANW Shares Purchased by Purkiss Capital Advisors LLC

by · The Markets Daily

Purkiss Capital Advisors LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 36.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 12,598 shares of the network technology company’s stock after purchasing an additional 3,390 shares during the period. Palo Alto Networks makes up approximately 1.2% of Purkiss Capital Advisors LLC’s investment portfolio, making the stock its 16th largest position. Purkiss Capital Advisors LLC’s holdings in Palo Alto Networks were worth $2,565,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Exchange Traded Concepts LLC grew its stake in shares of Palo Alto Networks by 29.4% in the third quarter. Exchange Traded Concepts LLC now owns 32,155 shares of the network technology company’s stock worth $6,547,000 after acquiring an additional 7,301 shares in the last quarter. Silver Oak Securities Incorporated boosted its holdings in Palo Alto Networks by 240.1% in the third quarter. Silver Oak Securities Incorporated now owns 11,732 shares of the network technology company’s stock valued at $2,389,000 after purchasing an additional 8,282 shares during the period. GoalVest Advisory LLC boosted its holdings in Palo Alto Networks by 1,248.9% in the third quarter. GoalVest Advisory LLC now owns 10,899 shares of the network technology company’s stock valued at $2,219,000 after purchasing an additional 10,091 shares during the period. Schroder Investment Management Group grew its stake in Palo Alto Networks by 7.9% during the 2nd quarter. Schroder Investment Management Group now owns 2,234,551 shares of the network technology company’s stock worth $457,279,000 after purchasing an additional 163,718 shares in the last quarter. Finally, Richmond Investment Services LLC increased its holdings in Palo Alto Networks by 87.2% during the 2nd quarter. Richmond Investment Services LLC now owns 3,286 shares of the network technology company’s stock worth $672,000 after purchasing an additional 1,531 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $180.18 on Monday. The stock’s 50-day moving average is $188.56 and its two-hundred day moving average is $194.96. The firm has a market cap of $125.59 billion, a price-to-earnings ratio of 114.04, a PEG ratio of 4.29 and a beta of 0.76. Palo Alto Networks, Inc. has a 1 year low of $144.15 and a 1 year high of $223.61.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last posted its earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.04. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.56 EPS. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,768 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $191.03, for a total transaction of $23,070,311.04. Following the completion of the sale, the executive vice president owned 298,887 shares in the company, valued at $57,096,383.61. This represents a 28.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James J. Goetz sold 12,500 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the transaction, the director directly owned 75,184 shares in the company, valued at $14,685,690.72. The trade was a 14.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 382,016 shares of company stock valued at $76,386,460 over the last ninety days. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PANW shares. Hsbc Global Res cut Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research note on Thursday, November 20th. Barclays lifted their price target on shares of Palo Alto Networks from $215.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Robert W. Baird boosted their price target on shares of Palo Alto Networks from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Wolfe Research raised their price objective on shares of Palo Alto Networks from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Finally, UBS Group set a $215.00 price objective on shares of Palo Alto Networks and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Thirty-one equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $229.09.

Check Out Our Latest Stock Analysis on PANW

Palo Alto Networks Profile

(Free Report)

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.

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