Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Bokf Na

Bokf Na increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,627 shares of the network technology company’s stock after purchasing an additional 1,532 shares during the quarter. Bokf Na’s holdings in Palo Alto Networks were worth $12,756,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Fortune Financial Advisors LLC raised its holdings in Palo Alto Networks by 34.6% in the 2nd quarter. Fortune Financial Advisors LLC now owns 4,069 shares of the network technology company’s stock worth $1,379,000 after purchasing an additional 1,045 shares during the period. Hazlett Burt & Watson Inc. raised its holdings in Palo Alto Networks by 5.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 867 shares of the network technology company’s stock worth $293,000 after purchasing an additional 45 shares during the period. Trifecta Capital Advisors LLC raised its holdings in Palo Alto Networks by 8.1% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 27,834 shares of the network technology company’s stock worth $9,436,000 after purchasing an additional 2,089 shares during the period. LPL Financial LLC raised its holdings in shares of Palo Alto Networks by 5.9% during the second quarter. LPL Financial LLC now owns 574,529 shares of the network technology company’s stock valued at $194,771,000 after acquiring an additional 31,782 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Palo Alto Networks during the second quarter valued at approximately $159,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In other news, CAO Josh D. Paul sold 200 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now directly owns 24,982 shares in the company, valued at $8,443,916. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the sale, the executive vice president now directly owns 166,542 shares in the company, valued at $55,791,570. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the sale, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The disclosure for this sale can be found here. Over the last three months, insiders have sold 464,075 shares of company stock worth $154,029,567. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Down 1.7 %

PANW opened at $341.77 on Thursday. Palo Alto Networks, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84. The business has a fifty day simple moving average of $336.03 and a 200-day simple moving average of $311.64. The firm has a market cap of $110.67 billion, a P/E ratio of 49.68, a P/E/G ratio of 4.89 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The business 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 company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share. Sell-side analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on PANW. BMO Capital Markets increased their target price on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Argus increased their target price on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Piper Sandler increased their target price on Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Truist Financial increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, BTIG Research increased their target price on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $366.08.

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.