Cape ANN Savings Bank Has $755,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cape ANN Savings Bank grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 59.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,209 shares of the network technology company’s stock after purchasing an additional 823 shares during the period. Cape ANN Savings Bank’s holdings in Palo Alto Networks were worth $755,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks in the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. increased its position in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares during the last quarter. Central Bank & Trust Co. increased its position in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Cape Investment Advisory Inc. raised its holdings in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Finally, New England Capital Financial Advisors LLC boosted its position in Palo Alto Networks by 833.3% during the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 5.1 %

PANW opened at $355.13 on Wednesday. The stock has a market capitalization of $114.99 billion, a price-to-earnings ratio of 51.62, a P/E/G ratio of 4.82 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $380.84. The company has a 50-day simple moving average of $338.26 and a 200 day simple moving average of $317.74.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results 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 net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business posted $0.80 EPS. The firm’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 3.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler boosted their price target on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Morgan Stanley boosted their target price on shares of Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Susquehanna increased their price target on shares of Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research note on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research note on Monday, August 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a report on Friday, August 16th. Eleven analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $371.50.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 269,866 shares of company stock worth $88,620,447. Insiders own 3.30% of the company’s stock.

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.