Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Counterweight Ventures LLC

Counterweight Ventures LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,384 shares of the network technology company’s stock after acquiring an additional 122 shares during the quarter. Palo Alto Networks makes up about 1.9% of Counterweight Ventures LLC’s holdings, making the stock its 23rd largest holding. Counterweight Ventures LLC’s holdings in Palo Alto Networks were worth $2,503,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC grew its stake in shares of Palo Alto Networks by 12.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,897 shares of the network technology company’s stock worth $559,000 after purchasing an additional 212 shares during the period. Aveo Capital Partners LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth $212,000. Gryphon Financial Partners LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth $336,000. Principal Securities Inc. acquired a new position in shares of Palo Alto Networks during the 4th quarter worth $1,020,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth $282,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the completion of the sale, the director now owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now directly 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 sold 466,238 shares of company stock valued at $154,690,169 over the last 90 days. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Performance

PANW opened at $335.82 on Friday. The firm has a 50 day moving average price of $335.82 and a 200 day moving average price of $310.09. The company has a market cap of $108.74 billion, a PE ratio of 48.81, a price-to-earnings-growth ratio of 5.29 and a beta of 1.13. Palo Alto Networks, Inc. has a 1 year low of $224.64 and a 1 year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate 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 revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PANW. Royal Bank of Canada upped their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Argus boosted their price objective on shares of Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. boosted their price objective on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Citigroup boosted their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Truist Financial boosted their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $366.08.

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.