Bray Capital Advisors decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 3.2% during the 3rd quarter, Holdings Channel reports. The fund owned 28,093 shares of the network technology company’s stock after selling 939 shares during the quarter. Palo Alto Networks accounts for about 2.4% of Bray Capital Advisors’ investment portfolio, making the stock its 10th biggest holding. Bray Capital Advisors’ holdings in Palo Alto Networks were worth $9,602,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC raised its holdings in Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares during the period. Sound Income Strategies LLC raised its holdings in Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 67 shares during the period. Strategic Investment Solutions Inc. IL raised its holdings 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 valued at $29,000 after purchasing an additional 55 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $25,000. Finally, First PREMIER Bank raised its holdings in shares of Palo Alto Networks by 48.4% in the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 31 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on PANW shares. Bank of America lifted their price objective on shares of Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Cantor Fitzgerald upgraded shares of Palo Alto Networks to a “strong-buy” rating in a report on Friday, November 1st. Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $350.00 to $325.00 in a report on Thursday, July 18th. BNP Paribas initiated coverage on shares of Palo Alto Networks in a report on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 price objective on the stock. Finally, Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $378.49.
Insider Buying and Selling
In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Nikesh Arora sold 66,666 shares of Palo Alto Networks stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the sale, the chief executive officer now directly owns 639,994 shares in the company, valued at $219,505,142.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the sale, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,252 shares of company stock worth $89,383,077 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.
Palo Alto Networks Stock Up 1.1 %
Shares of PANW stock opened at $391.40 on Friday. Palo Alto Networks, Inc. has a 52 week low of $234.15 and a 52 week high of $393.21. The firm has a 50 day moving average of $355.13 and a 200-day moving average of $332.47. The company has a market cap of $127.44 billion, a price-to-earnings ratio of 53.99, a price-to-earnings-growth ratio of 5.59 and a beta of 1.12.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business earned $0.80 EPS. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.
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.
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