Future Fund LLC Purchases 213 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Future Fund LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,226 shares of the network technology company’s stock after buying an additional 213 shares during the quarter. Palo Alto Networks accounts for about 3.5% of Future Fund LLC’s portfolio, making the stock its 13th biggest holding. Future Fund LLC’s holdings in Palo Alto Networks were worth $1,170,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Kathmere Capital Management LLC grew its holdings in shares of Palo Alto Networks by 3.4% during the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after buying an additional 30 shares in the last quarter. FLC Capital Advisors grew its holdings in shares of Palo Alto Networks by 0.7% during the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after buying an additional 30 shares in the last quarter. Cromwell Holdings LLC grew its stake in Palo Alto Networks by 3.0% in the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after purchasing an additional 30 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in Palo Alto Networks by 9.4% in the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after purchasing an additional 30 shares in the last quarter. Finally, Geneva Partners LLC grew its stake in Palo Alto Networks by 0.3% in the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after purchasing an additional 30 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup raised their price target on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley raised their price target on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Cantor Fitzgerald upgraded Palo Alto Networks to a “strong-buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Piper Sandler raised their price objective on Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $378.87.

Palo Alto Networks Stock Down 0.0 %

Shares of PANW stock opened at $398.02 on Wednesday. The firm has a market capitalization of $129.60 billion, a P/E ratio of 54.90, a P/E/G ratio of 5.77 and a beta of 1.12. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $400.69. The stock’s fifty day simple moving average is $355.84 and its 200 day simple moving average is $333.78.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating 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 firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The business’s revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,252 shares of company stock worth $89,383,077. Insiders own 2.50% of the company’s stock.

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.