Means Investment CO. Inc. Has $996,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Means Investment CO. Inc. lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,913 shares of the network technology company’s stock after selling 162 shares during the period. Means Investment CO. Inc.’s holdings in Palo Alto Networks were worth $996,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC boosted its stake in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks in the first quarter valued at approximately $25,000. First PREMIER Bank boosted its stake in Palo Alto Networks by 48.4% in the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 31 shares during the last quarter. Financial Synergies Wealth Advisors Inc. boosted its stake in Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares during the last quarter. Finally, Central Bank & Trust Co. boosted its stake in Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. TD Cowen raised their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Wedbush reissued an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research report on Friday, August 16th. Citigroup lifted their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Truist Financial lifted their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Susquehanna lifted their price target on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a research report on Thursday, September 5th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $375.79.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $374.83 on Friday. The firm has a market capitalization of $121.37 billion, a PE ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. The company’s 50-day moving average is $348.67 and its 200-day moving average is $323.01. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data 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. 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%. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. As a group, analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insider Transactions at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the transaction, the executive vice president now directly owns 1,187,567 shares in the company, valued at $377,373,165.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The shares were 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 approximately $8,014,746.62. The trade was 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, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the sale, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,452 shares of company stock worth $118,643,279 in the last ninety days. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Company 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.