924 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by Cohen Capital Management Inc.

Cohen Capital Management Inc. purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 924 shares of the network technology company’s stock, valued at approximately $316,000.

A number of other large investors have also recently modified their holdings of PANW. Kathmere Capital Management LLC raised its stake in Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after purchasing an additional 30 shares in the last quarter. FLC Capital Advisors raised its position in shares of Palo Alto Networks by 0.7% during the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after buying an additional 30 shares in the last quarter. Cromwell Holdings LLC lifted its holdings in shares of Palo Alto Networks by 3.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after acquiring an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in Palo Alto Networks by 9.4% in the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after acquiring an additional 30 shares in the last quarter. Finally, Cascade Investment Group Inc. increased its stake in Palo Alto Networks by 2.9% in the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after acquiring an additional 31 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $362.00 on Monday. The business has a fifty day moving average price of $352.69 and a 200-day moving average price of $329.75. The company has a market capitalization of $117.87 billion, a PE ratio of 50.02, a PEG ratio of 5.22 and a beta of 1.12. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $0.80 EPS. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 66,666 shares of Palo Alto Networks stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the completion of the sale, the chief executive officer now owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Nikesh Arora sold 66,666 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the sale, the chief executive officer now owns 639,994 shares of the company’s stock, valued at $219,505,142.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock worth $89,383,077 in the last three months. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PANW shares. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Scotiabank upped their target price on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Truist Financial lifted their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Piper Sandler upped their price objective 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. Finally, Northland Securities lifted their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $378.49.

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.