Pittenger & Anderson Inc. Buys 19,312 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Pittenger & Anderson Inc. raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 366.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,582 shares of the network technology company’s stock after acquiring an additional 19,312 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Palo Alto Networks were worth $8,402,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PANW. Kathmere Capital Management LLC boosted its stake in Palo Alto Networks by 3.4% in the 2nd 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 during the period. FLC Capital Advisors boosted its position in shares of Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after acquiring an additional 30 shares during the period. Cromwell Holdings LLC boosted its position in shares of Palo Alto Networks by 3.0% in the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after acquiring an additional 30 shares during the period. Rosenberg Matthew Hamilton grew its stake in shares of Palo Alto Networks by 9.4% in the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after acquiring an additional 30 shares in the last quarter. Finally, Geneva Partners LLC raised its stake in Palo Alto Networks by 0.3% in the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.1 %

Shares of NASDAQ:PANW opened at $361.51 on Tuesday. The business has a fifty day simple moving average of $352.97 and a 200 day simple moving average of $330.32. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00. The firm has a market cap of $117.71 billion, a P/E ratio of 49.81, a P/E/G ratio of 5.26 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company earned $0.80 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of analyst reports. Cantor Fitzgerald upgraded shares of Palo Alto Networks to a “strong-buy” rating in a research report on Friday. Oppenheimer increased their price target on Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Northland Securities lifted their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a report on Tuesday, August 20th. Truist Financial increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, BNP Paribas began coverage on Palo Alto Networks in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $378.49.

Insider Transactions at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the sale, the director now directly owns 41,517 shares in the company, valued at $14,175,564.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the sale, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,252 shares of company stock worth $89,383,077. Company insiders own 2.50% 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.