Tcwp LLC Buys Shares of 703 Palo Alto Networks, Inc. (NASDAQ:PANW)

Tcwp LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 703 shares of the network technology company’s stock, valued at approximately $238,000.

A number of other institutional investors have also modified their holdings of PANW. Sunbelt Securities Inc. increased its position in Palo Alto Networks by 91.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after acquiring an additional 802 shares during the period. Jennison Associates LLC grew its holdings in Palo Alto Networks by 7.6% during the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after acquiring an additional 198,078 shares during the period. Brookstone Capital Management raised its position in Palo Alto Networks by 48.4% in the first quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock worth $7,502,000 after acquiring an additional 8,611 shares in the last quarter. Wealthspire Advisors LLC boosted its position in shares of Palo Alto Networks by 1.7% during the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after purchasing an additional 75 shares in the last quarter. Finally, Connectus Wealth LLC grew its stake in shares of Palo Alto Networks by 22.8% in the 4th quarter. Connectus Wealth LLC now owns 43,813 shares of the network technology company’s stock worth $12,920,000 after purchasing an additional 8,132 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction dated Monday, July 1st. The shares were 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 $6,452,097.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. The disclosure for this sale can be found here. Insiders sold a total of 464,075 shares of company stock valued at $154,029,567 in the last quarter. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

Shares of PANW opened at $340.12 on Friday. The stock has a 50 day simple moving average of $336.39 and a 200 day simple moving average of $313.18. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84. The firm has a market capitalization of $110.74 billion, a PE ratio of 49.44, a P/E/G ratio of 5.04 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The firm 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 company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. Equities research analysts predict that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Daiwa Capital Markets assumed coverage on shares of Palo Alto Networks in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a report on Monday, August 19th. DA Davidson upped their price target on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Piper Sandler lifted their target price on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Argus lifted their price objective on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company 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.