Capital Investment Advisors LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 160.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,513 shares of the network technology company’s stock after purchasing an additional 933 shares during the period. Capital Investment Advisors LLC’s holdings in Palo Alto Networks were worth $248,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of PANW. Ellevest Inc. boosted its position in Palo Alto Networks by 7.4% in the 2nd quarter. Ellevest Inc. now owns 292 shares of the network technology company’s stock valued at $144,000 after buying an additional 20 shares during the last quarter. Tandem Capital Management Corp ADV boosted its position in Palo Alto Networks by 3.6% in the 2nd quarter. Tandem Capital Management Corp ADV now owns 570 shares of the network technology company’s stock valued at $282,000 after buying an additional 20 shares during the last quarter. Covestor Ltd boosted its position in shares of Palo Alto Networks by 61.8% in the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock worth $35,000 after purchasing an additional 21 shares during the last quarter. Foundations Investment Advisors LLC boosted its position in shares of Palo Alto Networks by 1.9% in the 2nd quarter. Foundations Investment Advisors LLC now owns 1,146 shares of the network technology company’s stock worth $590,000 after purchasing an additional 21 shares during the last quarter. Finally, Hanseatic Management Services Inc. boosted its position in shares of Palo Alto Networks by 2.1% in the 2nd quarter. Hanseatic Management Services Inc. now owns 1,002 shares of the network technology company’s stock worth $495,000 after purchasing an additional 21 shares during the last quarter. 86.17% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Palo Alto Networks
In related news, EVP Lee Klarich sold 15,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $166.74, for a total value of $2,501,100.00. Following the sale, the executive vice president now owns 634,905 shares of the company’s stock, valued at $105,864,059.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $168.45, for a total transaction of $6,064,200.00. Following the completion of the transaction, the executive vice president now owns 1,943,436 shares in the company, valued at $327,371,794.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 15,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $166.74, for a total value of $2,501,100.00. Following the transaction, the executive vice president now owns 634,905 shares of the company’s stock, valued at approximately $105,864,059.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 379,977 shares of company stock valued at $63,892,566. 3.90% of the stock is owned by insiders.
Palo Alto Networks Stock Performance
NASDAQ:PANW opened at $151.00 on Friday. The stock’s 50-day simple moving average is $163.87 and its 200 day simple moving average is $187.92. The company has a market cap of $45.36 billion, a P/E ratio of -306.08, a P/E/G ratio of 6.41 and a beta of 1.10. Palo Alto Networks, Inc. has a 52-week low of $140.07 and a 52-week high of $213.63.
Analyst Ratings Changes
Several research firms have recently issued reports on PANW. MKM Partners reduced their price target on Palo Alto Networks from $250.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, November 15th. Macquarie began coverage on Palo Alto Networks in a research report on Wednesday, November 2nd. They issued a “neutral” rating and a $185.00 price target on the stock. Wells Fargo & Company raised their price target on Palo Alto Networks from $233.33 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 23rd. Loop Capital upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and raised their price target for the stock from $183.00 to $200.00 in a research report on Thursday, November 10th. Finally, Citigroup raised their price target on Palo Alto Networks from $201.67 to $213.33 and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Five investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $232.92.
Palo Alto Networks Profile
Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on a customer’s network, as well as their instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.
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