Bank Hapoalim BM Sells 1,110 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Bank Hapoalim BM decreased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 51.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,067 shares of the network technology company’s stock after selling 1,110 shares during the quarter. Bank Hapoalim BM’s holdings in Palo Alto Networks were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PANW. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks in the 1st quarter valued at $25,000. Capital Advisors Ltd. LLC boosted 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 purchasing an additional 41 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Palo Alto Networks by 352.6% in the 3rd 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 in the last quarter. Strategic Investment Solutions Inc. IL boosted its position in Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. grew its holdings in Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PANW shares. Wedbush reissued an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Royal Bank of Canada lifted their target price on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Rosenblatt Securities lifted their target price on shares of Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, Piper Sandler lifted their target price on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $376.82.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 315,252 shares of company stock valued at $107,138,877. 3.30% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $2.85 during trading on Thursday, hitting $362.36. 171,132 shares of the company were exchanged, compared to its average volume of 3,933,726. The firm’s fifty day moving average price is $352.23 and its 200 day moving average price is $328.16. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. The firm has a market capitalization of $117.98 billion, a P/E ratio of 49.59, a price-to-earnings-growth ratio of 5.31 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released 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 analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. 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. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

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.