Cadent Capital Advisors LLC Has $969,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cadent Capital Advisors LLC grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 24.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,834 shares of the network technology company’s stock after purchasing an additional 563 shares during the period. Cadent Capital Advisors LLC’s holdings in Palo Alto Networks were worth $969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fisher Asset Management LLC increased its stake in Palo Alto Networks by 7.2% during the fourth quarter. Fisher Asset Management LLC now owns 1,806 shares of the network technology company’s stock valued at $533,000 after acquiring an additional 121 shares during the period. Alaska Permanent Fund Corp grew its holdings in shares of Palo Alto Networks by 403.5% during the 1st quarter. Alaska Permanent Fund Corp now owns 720 shares of the network technology company’s stock worth $205,000 after purchasing an additional 577 shares in the last quarter. Central Bank & Trust Co. increased its position in shares of Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. Radnor Capital Management LLC raised its stake in shares of Palo Alto Networks by 31.7% in the first quarter. Radnor Capital Management LLC now owns 1,455 shares of the network technology company’s stock valued at $413,000 after purchasing an additional 350 shares in the last quarter. Finally, Game Plan Financial Advisors LLC lifted its position in Palo Alto Networks by 1.3% in the first quarter. Game Plan Financial Advisors LLC now owns 4,846 shares of the network technology company’s stock worth $1,377,000 after purchasing an additional 64 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Josh D. Paul sold 200 shares of the firm’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 sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares in the company, valued at $47,055,533.37. 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 sold 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $374.83 on Friday. Palo Alto Networks, Inc. has a 52-week low of $233.81 and a 52-week high of $380.84. The stock has a market cap of $121.37 billion, a P/E ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. The firm has a 50 day moving average price of $348.67 and a 200 day moving average price of $323.01.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PANW has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. The Goldman Sachs Group increased 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. 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 report on Tuesday, August 20th. Evercore ISI increased their target price on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Finally, Stifel Nicolaus raised their target price on Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $375.79.

Palo Alto Networks Company 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.