6,631 Shares in Palo Alto Networks, Inc. $PANW Bought by Stance Capital LLC

Stance Capital LLC acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,631 shares of the network technology company’s stock, valued at approximately $1,357,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. St. Clair Advisors LLC lifted its stake in Palo Alto Networks by 0.3% in the second quarter. St. Clair Advisors LLC now owns 15,800 shares of the network technology company’s stock valued at $3,233,000 after buying an additional 50 shares during the period. Astoria Portfolio Advisors LLC. boosted its holdings in Palo Alto Networks by 2.1% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 2,467 shares of the network technology company’s stock valued at $496,000 after purchasing an additional 50 shares during the period. TFG Advisers LLC raised its holdings in shares of Palo Alto Networks by 1.1% in the 2nd quarter. TFG Advisers LLC now owns 4,668 shares of the network technology company’s stock valued at $955,000 after acquiring an additional 53 shares in the last quarter. GSG Advisors LLC increased its holdings in shares of Palo Alto Networks by 0.4% in the 1st quarter. GSG Advisors LLC now owns 12,450 shares of the network technology company’s stock worth $2,154,000 after buying an additional 54 shares during the last quarter. Finally, Investment Advisory Services Inc. TX ADV boosted its holdings in shares of Palo Alto Networks by 4.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 1,257 shares of the network technology company’s stock worth $257,000 after purchasing an additional 55 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PANW shares. Oppenheimer reissued an “outperform” rating and issued a $245.00 target price on shares of Palo Alto Networks in a research note on Thursday, November 20th. TD Cowen increased their price objective on Palo Alto Networks from $230.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. New Street Research increased their price target on shares of Palo Alto Networks from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Truist Financial set a $220.00 price objective on shares of Palo Alto Networks and gave the stock a “buy” rating in a research note on Tuesday, August 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of Palo Alto Networks in a research note on Thursday, November 20th. Thirty analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $225.09.

Palo Alto Networks Trading Up 0.7%

Shares of PANW opened at $191.69 on Friday. Palo Alto Networks, Inc. has a 12 month low of $144.15 and a 12 month high of $223.61. The business’s fifty day simple moving average is $204.67 and its two-hundred day simple moving average is $197.51. The company has a market cap of $133.61 billion, a price-to-earnings ratio of 121.32, a P/E/G ratio of 4.54 and a beta of 0.79.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the firm posted $1.56 earnings per share. Palo Alto Networks’s revenue was up 15.7% compared to the same quarter last year. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity

In related news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $217.94, for a total transaction of $26,321,485.56. Following the transaction, the executive vice president owned 356,409 shares in the company, valued at $77,675,777.46. This represents a 25.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James J. Goetz sold 12,500 shares of Palo Alto Networks stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the completion of the sale, the director directly owned 75,184 shares of the company’s stock, valued at approximately $14,685,690.72. This trade represents a 14.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,228,330 shares of company stock valued at $251,702,305 over the last three months. Corporate insiders own 1.40% of the company’s stock.

About Palo Alto Networks

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.