Braun Stacey Associates Inc. Has $26.16 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Braun Stacey Associates Inc. reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,527 shares of the network technology company's stock after selling 7,513 shares during the period. Braun Stacey Associates Inc.'s holdings in Palo Alto Networks were worth $26,157,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC increased its stake in Palo Alto Networks by 265.0% during the first quarter. Intech Investment Management LLC now owns 4,957 shares of the network technology company's stock worth $1,408,000 after acquiring an additional 3,599 shares during the last quarter. Cynosure Group LLC acquired a new stake in Palo Alto Networks during the 1st quarter worth approximately $319,000. Penobscot Investment Management Company Inc. raised its holdings in Palo Alto Networks by 51.5% in the first quarter. Penobscot Investment Management Company Inc. now owns 4,825 shares of the network technology company's stock valued at $1,371,000 after buying an additional 1,640 shares during the period. Ameritas Investment Partners Inc. lifted its position in Palo Alto Networks by 1.4% during the first quarter. Ameritas Investment Partners Inc. now owns 12,830 shares of the network technology company's stock valued at $3,645,000 after buying an additional 175 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in Palo Alto Networks by 12.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 25,490 shares of the network technology company's stock worth $7,243,000 after buying an additional 2,748 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on PANW shares. Evercore ISI upped their price target on shares of Palo Alto Networks from $395.00 to $455.00 and gave the stock an "outperform" rating in a research report on Monday. Piper Sandler upped their target price on Palo Alto Networks from $300.00 to $330.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Sanford C. Bernstein increased their target price on Palo Alto Networks from $364.00 to $399.00 and gave the company an "outperform" rating in a research note on Tuesday, August 20th. JMP Securities reissued a "market outperform" rating and set a $380.00 price target on shares of Palo Alto Networks in a research report on Monday, November 4th. Finally, Oppenheimer increased their price objective on shares of Palo Alto Networks from $410.00 to $450.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. One research 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's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $390.39.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the sale, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. This represents a 24.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks 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 transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. The trade was a 27.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,252 shares of company stock valued at $89,041,637 over the last three months. Insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Down 0.2 %

PANW stock traded down $0.67 on Monday, hitting $386.33. 1,240,822 shares of the company's stock traded hands, compared to its average volume of 3,838,290. The stock has a market cap of $125.79 billion, a price-to-earnings ratio of 53.72, a P/E/G ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a 1-year low of $249.56 and a 1-year high of $408.53. The stock has a fifty day moving average of $359.86 and a 200-day moving average of $336.73.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $2.19 billion during 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 company's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 EPS. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal 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.