Bray Capital Advisors Sells 939 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Bray Capital Advisors lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,093 shares of the network technology company’s stock after selling 939 shares during the quarter. Palo Alto Networks accounts for about 2.4% of Bray Capital Advisors’ holdings, making the stock its 10th biggest position. Bray Capital Advisors’ holdings in Palo Alto Networks were worth $9,602,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after buying an additional 1,002,239 shares during the period. International Assets Investment Management LLC grew its position in Palo Alto Networks by 34,318.2% in the third 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 in the last quarter. Legal & General Group Plc grew its position in Palo Alto Networks by 8.5% in the second 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 in the last quarter. Canada Pension Plan Investment Board grew its position in 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 worth $757,321,000 after acquiring an additional 114,742 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in Palo Alto Networks by 8.0% in the second quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock worth $339,183,000 after acquiring an additional 73,922 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In other news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,252 shares of company stock valued at $89,383,077. 3.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on PANW. JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research report on Monday, November 4th. DA Davidson boosted their target price on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. BTIG Research boosted their target price on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Piper Sandler boosted their target price on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Citigroup upped their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $378.49.

Palo Alto Networks Stock Up 1.1 %

Shares of NASDAQ:PANW opened at $391.40 on Friday. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $393.21. The company’s 50-day moving average price is $355.13 and its two-hundred day moving average price is $332.47. The firm has a market cap of $127.44 billion, a P/E ratio of 53.99, a P/E/G ratio of 5.59 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The company’s revenue was up 12.1% on a year-over-year basis. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

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.