Bfsg LLC Purchases 2,746 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Bfsg LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 17.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,320 shares of the network technology company’s stock after buying an additional 2,746 shares during the quarter. Bfsg LLC’s holdings in Palo Alto Networks were worth $6,262,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kathmere Capital Management LLC grew its holdings in shares of 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 worth $312,000 after purchasing an additional 30 shares during the last quarter. Cascade Investment Group Inc. raised its holdings in Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after buying an additional 31 shares during the last quarter. Herbst Group LLC boosted its position in Palo Alto Networks by 0.3% during the 3rd quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock valued at $3,313,000 after buying an additional 31 shares during the period. First PREMIER Bank grew its holdings in Palo Alto Networks by 48.4% in the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after acquiring an additional 31 shares during the last quarter. Finally, CVA Family Office LLC increased its position in shares of Palo Alto Networks by 12.9% in the third quarter. CVA Family Office LLC now owns 280 shares of the network technology company’s stock valued at $96,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at $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 available through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $373.23 on Thursday. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $380.84. The business’s fifty day moving average is $346.63 and its 200 day moving average is $321.63. The stock has a market capitalization of $120.85 billion, a PE ratio of 54.25, a price-to-earnings-growth ratio of 5.26 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm posted $0.80 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on PANW shares. KeyCorp raised their target price on Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a report on Tuesday, August 20th. BTIG Research boosted their target price on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Needham & Company LLC upped their target price on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Barclays lifted their price target on shares of Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.28.

Palo Alto Networks 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.