Bradley Foster & Sargent Inc. CT Sells 5,994 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Bradley Foster & Sargent Inc. CT lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 40.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,947 shares of the network technology company’s stock after selling 5,994 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Palo Alto Networks were worth $3,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Aveo Capital Partners LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth about $212,000. Gryphon Financial Partners LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth about $336,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth about $840,000. PNC Financial Services Group Inc. grew its position in shares of Palo Alto Networks by 10.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 65,572 shares of the network technology company’s stock worth $19,336,000 after purchasing an additional 6,217 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of Palo Alto Networks by 92.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,903 shares of the network technology company’s stock worth $1,151,000 after purchasing an additional 1,877 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at $8,443,916. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the transaction, the president now directly owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares in the company, valued at $8,443,916. The disclosure for this sale can be found here. Over the last three months, insiders have sold 464,075 shares of company stock valued at $154,029,567. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Down 2.4 %

Palo Alto Networks stock opened at $329.75 on Thursday. The business has a fifty day moving average of $336.27 and a two-hundred day moving average of $312.75. The firm has a market cap of $107.37 billion, a P/E ratio of 47.93, a P/E/G ratio of 5.03 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $224.64 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. Equities analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PANW shares. Bank of America increased their target price on Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI raised their price target on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. KeyCorp raised their price target on Palo Alto Networks from $380.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Piper Sandler raised their price target on Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Susquehanna raised their price target on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a report on Thursday, September 5th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given 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 $366.08.

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.