GFS Advisors LLC Buys 2,782 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

GFS Advisors LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 448.7% in the third quarter, Holdings Channel.com reports. The firm owned 3,402 shares of the network technology company’s stock after acquiring an additional 2,782 shares during the period. GFS Advisors LLC’s holdings in Palo Alto Networks were worth $1,163,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Capital Advisors Ltd. LLC increased its holdings in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the 1st quarter worth approximately $25,000. Finally, First PREMIER Bank lifted 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. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This trade 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 available through this hyperlink. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now owns 41,517 shares of the company’s stock, valued at $14,175,564.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction 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 sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,252 shares of company stock valued at $107,138,877. 3.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on PANW. Piper Sandler lifted their price objective 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. JPMorgan Chase & Co. boosted their price target on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Royal Bank of Canada increased their price target on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. UBS Group lifted their price target on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Scotiabank raised their price target on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $378.49.

Palo Alto Networks Stock Up 0.6 %

NASDAQ:PANW opened at $362.64 on Friday. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00. The business’s 50-day simple moving average is $352.69 and its two-hundred day simple moving average is $329.39. The stock has a market cap of $118.08 billion, a PE ratio of 50.02, a P/E/G ratio of 5.22 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm earned $0.80 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.57 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.