Moloney Securities Asset Management LLC Lowers Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Moloney Securities Asset Management LLC reduced its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,497 shares of the network technology company’s stock after selling 128 shares during the period. Moloney Securities Asset Management LLC’s holdings in Palo Alto Networks were worth $1,879,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks in the first quarter worth about $25,000. Capital Advisors Ltd. LLC boosted its position in shares of Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its position in shares of Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. boosted its stake in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In related news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at $14,175,564.48. This trade represents 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 at this link. In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 255,252 shares of company stock valued at $89,383,077. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial increased their price objective 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. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a research report on Monday. Barclays upped their price objective on Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Redburn Atlantic downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their target price for the company from $350.00 to $325.00 in a research report on Thursday, July 18th. Finally, TD Cowen raised their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $378.49.

Palo Alto Networks Trading Down 0.4 %

PANW stock opened at $361.12 on Tuesday. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. The firm has a market capitalization of $117.58 billion, a PE ratio of 49.81, a PEG ratio of 5.26 and a beta of 1.12. The business’s 50 day simple moving average is $352.97 and its 200 day simple moving average is $330.32.

Palo Alto Networks (NASDAQ:PANW) last released its 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. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 earnings per share. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

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.