Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,172 shares of the network technology company’s stock after selling 898 shares during the period. Focus Financial Network Inc.’s holdings in Palo Alto Networks were worth $2,110,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PANW. Vanguard Group Inc. lifted its position in 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 buying an additional 1,002,239 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after acquiring an additional 3,249,594 shares during the period. Legal & General Group Plc raised its holdings in shares of Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after acquiring an additional 255,060 shares during the period. Jennison Associates LLC grew 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 valued at $799,792,000 after purchasing an additional 198,078 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Palo Alto Networks by 5.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock valued at $757,321,000 after purchasing an additional 114,742 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now directly owns 41,517 shares in the company, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the sale, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 315,252 shares of company stock worth $107,138,877. 3.30% of the stock is owned by insiders.

Palo Alto Networks Trading Up 0.6 %

Shares of Palo Alto Networks stock opened at $362.64 on Friday. The company has a fifty day simple moving average of $352.69 and a 200-day simple moving average of $329.01. The stock has a market cap of $118.08 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 5.21 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data 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 return on equity of 26.83% and a net margin of 32.11%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share. On average, analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on PANW shares. Morgan Stanley boosted their target price on shares of Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Redburn Atlantic lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $350.00 to $325.00 in a research report on Thursday, July 18th. Truist Financial raised their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. BNP Paribas started coverage on Palo Alto Networks in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 price target on the stock. Finally, Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $378.49.

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.