Palo Alto Networks, Inc. $PANW Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,185 shares of the network technology company’s stock after buying an additional 4,748 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Palo Alto Networks were worth $11,033,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PANW. Community Trust & Investment Co. boosted its position in Palo Alto Networks by 0.8% during the 3rd quarter. Community Trust & Investment Co. now owns 119,438 shares of the network technology company’s stock worth $24,320,000 after purchasing an additional 901 shares during the period. Autumn Glory Partners LLC lifted its stake in shares of Palo Alto Networks by 22.4% during the third quarter. Autumn Glory Partners LLC now owns 1,944 shares of the network technology company’s stock worth $396,000 after purchasing an additional 356 shares in the last quarter. Advisory Resource Group lifted its stake in shares of Palo Alto Networks by 10.2% during the third quarter. Advisory Resource Group now owns 7,230 shares of the network technology company’s stock worth $1,472,000 after purchasing an additional 669 shares in the last quarter. Capital Management Associates Inc purchased a new stake in shares of Palo Alto Networks in the third quarter worth about $320,000. Finally, Bender Robert & Associates grew its stake in shares of Palo Alto Networks by 1.2% in the third quarter. Bender Robert & Associates now owns 54,130 shares of the network technology company’s stock valued at $11,022,000 after buying an additional 645 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PANW. Stephens upped their price target on Palo Alto Networks from $205.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday, November 20th. BMO Capital Markets upped their target price on shares of Palo Alto Networks from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Rosenblatt Securities raised their price target on shares of Palo Alto Networks from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. TD Cowen boosted their price objective on shares of Palo Alto Networks from $230.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, DA Davidson set a $240.00 target price on Palo Alto Networks in a research note on Friday, December 19th. Thirty-one investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $227.06.

Palo Alto Networks Stock Up 1.5%

NASDAQ:PANW opened at $182.12 on Tuesday. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $223.61. The stock has a fifty day simple moving average of $196.19 and a 200 day simple moving average of $196.40. The firm has a market capitalization of $126.94 billion, a price-to-earnings ratio of 115.27, a price-to-earnings-growth ratio of 4.28 and a beta of 0.76.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $189.39, for a total value of $132,573.00. Following the transaction, the chief accounting officer owned 46,805 shares in the company, valued at approximately $8,864,398.95. This represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total value of $940,900.00. Following the sale, the executive vice president owned 155,119 shares of the company’s stock, valued at approximately $29,190,293.42. This represents a 3.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 260,448 shares of company stock valued at $53,168,301. 1.40% of the stock is owned by insiders.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next?generation firewalls as a core on?premises capability, alongside cloud?delivered security services and software for securing public and private clouds.