L & S Advisors Inc Has $12.21 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

L & S Advisors Inc raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 98.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,021 shares of the network technology company’s stock after acquiring an additional 17,866 shares during the period. Palo Alto Networks makes up 1.4% of L & S Advisors Inc’s portfolio, making the stock its 16th biggest holding. L & S Advisors Inc’s holdings in Palo Alto Networks were worth $12,211,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PANW. Cascade Investment Group Inc. raised its stake 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 purchasing an additional 31 shares during the last quarter. Sepio Capital LP raised its position in shares of Palo Alto Networks by 3.7% during the fourth quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock valued at $278,000 after buying an additional 34 shares during the last quarter. Sheets Smith Wealth Management lifted its stake in shares of Palo Alto Networks by 2.4% in the first quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock valued at $420,000 after buying an additional 34 shares during the period. Pin Oak Investment Advisors Inc. grew its position in Palo Alto Networks by 41.2% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 120 shares of the network technology company’s stock worth $35,000 after buying an additional 35 shares in the last quarter. Finally, First County Bank CT increased its stake in Palo Alto Networks by 1.0% during the fourth quarter. First County Bank CT now owns 3,537 shares of the network technology company’s stock valued at $1,043,000 after acquiring an additional 35 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $346.11 on Tuesday. Palo Alto Networks, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84. The company’s 50 day moving average price is $336.38 and its two-hundred day moving average price is $312.38. The company has a market capitalization of $112.69 billion, a P/E ratio of 50.31, a price-to-earnings-growth ratio of 5.03 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.80 earnings per share. Analysts forecast that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on PANW shares. 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 research note on Tuesday, August 20th. The Goldman Sachs Group increased their price objective on shares of Palo Alto Networks from $330.00 to $376.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Barclays upped their target price on shares of Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Truist Financial raised their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities upped their price objective on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $366.08.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the transaction, the president now owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $54,854,924.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the transaction, the president now owns 19,026 shares in the company, valued at $6,452,097.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 464,075 shares of company stock valued at $154,029,567. 3.30% of the stock is owned by insiders.

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.