GraniteShares Advisors LLC Purchases 473 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

GraniteShares Advisors LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,292 shares of the network technology company’s stock after purchasing an additional 473 shares during the period. GraniteShares Advisors LLC’s holdings in Palo Alto Networks were worth $1,455,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks during the first quarter worth $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter worth $27,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the period. Ulland Investment Advisors LLC purchased a new position in shares of Palo Alto Networks in the 1st quarter worth about $30,000. Finally, Central Bank & Trust Co. grew its position in Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PANW. Redburn Atlantic cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their target price for the company from $350.00 to $325.00 in a research note on Thursday, July 18th. Robert W. Baird upped their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. BTIG Research upped their price target on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Truist Financial increased their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $364.08.

Palo Alto Networks Stock Performance

NASDAQ:PANW traded up $4.51 during midday trading on Friday, reaching $362.72. 2,988,576 shares of the stock traded hands, compared to its average volume of 3,892,995. The stock has a market capitalization of $117.45 billion, a P/E ratio of 52.72, a PEG ratio of 4.82 and a beta of 1.14. The company has a fifty day moving average of $333.84 and a 200 day moving average of $310.72. Palo Alto Networks, Inc. has a 12 month low of $224.64 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business posted $0.80 earnings per share. Palo Alto Networks’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts predict that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the transaction, the president now 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 accessible through this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the company’s 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 sale, the president now owns 19,026 shares in the company, valued at $6,452,097.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks 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 transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The disclosure for this sale can be found here. Insiders have sold 376,372 shares of company stock worth $121,925,593 over the last ninety days. 3.30% of the stock is owned by corporate insiders.

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.