Conning Inc. Sells 47 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Conning Inc. lowered its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,462 shares of the network technology company’s stock after selling 47 shares during the period. Conning Inc.’s holdings in Palo Alto Networks were worth $500,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks during the 1st quarter worth $25,000. Capital Advisors Ltd. LLC raised its holdings in 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 worth $26,000 after purchasing an additional 41 shares during the period. Sound Income Strategies LLC lifted its position in Palo Alto Networks by 352.6% during the third 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 grew its holdings in Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. increased its position in Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PANW. Piper Sandler lifted their price objective on Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group upped their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays raised their price objective on shares of Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $378.49.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,252 shares of company stock valued at $89,383,077. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Up 0.6 %

PANW stock opened at $362.64 on Monday. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $384.00. The firm has a market cap of $118.08 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 5.22 and a beta of 1.12. The business’s fifty day simple moving average is $352.69 and its two-hundred day simple moving average is $329.75.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion for 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 firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 EPS. Research analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS 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.