CWA Asset Management Group LLC Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

CWA Asset Management Group LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 1,968 shares of the network technology company’s stock, valued at approximately $673,000.

Several other hedge funds have also added to or reduced their stakes in PANW. Capital Advisors Ltd. LLC lifted its stake in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 41 shares during the last quarter. Sound Income Strategies LLC lifted its position in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares during the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks during the first quarter valued at approximately $25,000. Finally, First PREMIER Bank grew its holdings in shares of Palo Alto Networks by 48.4% in the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after purchasing an additional 31 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. 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 link. In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction on Monday, August 19th. The shares were 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 in the company, valued at $14,175,564.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,252 shares of company stock valued at $89,383,077. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Robert W. Baird raised their target price on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. JMP Securities restated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a report on Monday, November 4th. Rosenblatt Securities increased their price objective on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Truist Financial boosted their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have given 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.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Stock Up 1.1 %

Shares of PANW stock opened at $391.40 on Monday. The company has a 50 day moving average price of $355.13 and a 200-day moving average price of $332.74. Palo Alto Networks, Inc. has a 52 week low of $234.15 and a 52 week high of $393.21. The firm has a market capitalization of $127.44 billion, a PE ratio of 53.99, a P/E/G ratio of 5.68 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. Analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

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.