Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Holdings Increased by KPP Advisory Services LLC

KPP Advisory Services LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 310.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,677 shares of the network technology company's stock after purchasing an additional 2,025 shares during the period. KPP Advisory Services LLC's holdings in Palo Alto Networks were worth $915,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC grew its position in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock valued at $26,000 after purchasing an additional 41 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company's stock valued at $29,000 after purchasing an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its position 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. Finally, Cape Investment Advisory Inc. boosted its position in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company's stock worth $31,000 after acquiring an additional 100 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nikesh Arora sold 81,586 shares of the business's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 11.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock valued at $89,383,077 in the last ninety days. Company insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Piper Sandler lifted their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. DA Davidson lifted their price target on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. Wedbush reiterated an "outperform" rating and issued a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. Finally, TD Cowen lifted their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average target price of $381.56.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded down $7.39 during midday trading on Friday, hitting $387.00. The company's stock had a trading volume of 2,204,087 shares, compared to its average volume of 3,849,976. The firm's fifty day moving average price is $359.86 and its 200-day moving average price is $336.07. The firm has a market cap of $126.01 billion, a P/E ratio of 53.38, a P/E/G ratio of 5.84 and a beta of 1.12. Palo Alto Networks, Inc. has a 1-year low of $234.15 and a 1-year high of $408.53.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during 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%. Palo Alto Networks's revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS. As a group, research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal 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.