Silver Oak Securities Incorporated Acquires 1,387 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Silver Oak Securities Incorporated raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 177.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,168 shares of the network technology company’s stock after purchasing an additional 1,387 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Palo Alto Networks were worth $728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Palo Alto Networks by 3.6% in the first quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after acquiring an additional 1,002,239 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Palo Alto Networks by 34,318.2% in the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after purchasing an additional 3,249,594 shares in the last quarter. Legal & General Group Plc increased its position in shares of Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after purchasing an additional 255,060 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after buying an additional 198,078 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Palo Alto Networks by 5.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock worth $757,321,000 after buying an additional 114,742 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $366.44 on Friday. The business has a fifty day moving average price of $351.91 and a 200-day moving average price of $326.13. The company has a market capitalization of $119.31 billion, a PE ratio of 50.54, a PEG ratio of 5.45 and a beta of 1.13. 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 Activity at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the sale, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the sale, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. This represents 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 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PANW. Truist Financial increased their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Redburn Atlantic lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price target for the company from $350.00 to $325.00 in a report on Thursday, July 18th. Northland Securities raised their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a report on Tuesday, August 20th. Wedbush reaffirmed an “outperform” rating and set a $375.00 price objective on shares of Palo Alto Networks in a research note on Friday, August 16th. Finally, Citigroup raised their target price on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Eleven 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. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $376.82.

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.