Crewe Advisors LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 9.0% in the second quarter, Holdings Channel reports. The firm owned 2,125 shares of the network technology company’s stock after buying an additional 176 shares during the period. Crewe Advisors LLC’s holdings in Palo Alto Networks were worth $435,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Palo Alto Networks by 2.5% in the first quarter. Vanguard Group Inc. now owns 62,775,544 shares of the network technology company’s stock valued at $10,712,019,000 after purchasing an additional 1,541,637 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Palo Alto Networks by 41.9% in the first quarter. Goldman Sachs Group Inc. now owns 7,235,406 shares of the network technology company’s stock valued at $1,234,650,000 after purchasing an additional 2,134,735 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Palo Alto Networks by 16.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,902,048 shares of the network technology company’s stock valued at $1,177,765,000 after purchasing an additional 950,765 shares during the period. Nuveen LLC purchased a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $810,047,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Palo Alto Networks by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,422,037 shares of the network technology company’s stock valued at $754,576,000 after purchasing an additional 219,111 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.
Palo Alto Networks Trading Up 1.2%
Shares of PANW stock opened at $207.89 on Monday. The business’s fifty day simple moving average is $196.80 and its 200-day simple moving average is $190.59. The company has a market cap of $139.06 billion, a PE ratio of 129.53, a PEG ratio of 4.94 and a beta of 0.98. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $217.94.
Insider Buying and Selling at Palo Alto Networks
In other news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $204.19, for a total transaction of $1,020,950.00. Following the transaction, the executive vice president directly owned 96,135 shares of the company’s stock, valued at approximately $19,629,805.65. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $172.80, for a total value of $17,280,000.00. Following the transaction, the executive vice president directly owned 3,143,516 shares in the company, valued at approximately $543,199,564.80. The trade was a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,315,130 shares of company stock valued at $260,687,367. Corporate insiders own 2.50% of the company’s stock.
Analyst Upgrades and Downgrades
PANW has been the subject of a number of research reports. Scotiabank boosted their price target on Palo Alto Networks from $225.00 to $228.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 19th. Barclays restated an “overweight” rating and set a $215.00 target price (up previously from $210.00) on shares of Palo Alto Networks in a report on Tuesday, August 19th. Oppenheimer upped their target price on Palo Alto Networks from $225.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler upgraded Palo Alto Networks from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $200.00 to $225.00 in a report on Tuesday, August 12th. Finally, DA Davidson restated a “buy” rating and set a $215.00 target price on shares of Palo Alto Networks in a report on Tuesday, August 19th. Thirty equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $216.60.
Check Out Our Latest Analysis on PANW
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.
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