Spirit of America Management Corp NY Purchases 100 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Spirit of America Management Corp NY increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,550 shares of the network technology company’s stock after purchasing an additional 100 shares during the period. Spirit of America Management Corp NY’s holdings in Palo Alto Networks were worth $872,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Kathmere Capital Management LLC boosted its stake in Palo Alto Networks by 3.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares in the last quarter. FLC Capital Advisors boosted its stake in Palo Alto Networks by 0.7% in the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after purchasing an additional 30 shares in the last quarter. Cascade Investment Group Inc. boosted its stake in Palo Alto Networks by 2.9% in the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after purchasing an additional 31 shares in the last quarter. Herbst Group LLC boosted its stake in Palo Alto Networks by 0.3% in the 3rd quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock worth $3,313,000 after purchasing an additional 31 shares in the last quarter. Finally, First PREMIER Bank boosted its stake in Palo Alto Networks by 48.4% in the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PANW shares. Northland Securities upped their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Evercore ISI increased their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Redburn Atlantic cut Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $350.00 to $325.00 in a research report on Thursday, July 18th. Finally, Truist Financial raised their target price 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. Eleven 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $376.82.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the transaction, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the transaction, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock worth $118,643,279 in the last 90 days. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Up 1.8 %

Shares of NASDAQ:PANW opened at $364.58 on Friday. The company has a market capitalization of $118.71 billion, a price-to-earnings ratio of 50.29, a price-to-earnings-growth ratio of 5.45 and a beta of 1.13. The firm has a 50 day moving average of $350.84 and a 200 day moving average of $325.17. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 earnings per share. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current 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.