Blair William & Co. IL Has $212.49 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Blair William & Co. IL grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.5% during the second quarter, HoldingsChannel.com reports. The firm owned 626,801 shares of the network technology company’s stock after purchasing an additional 3,341 shares during the period. Blair William & Co. IL’s holdings in Palo Alto Networks were worth $212,492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PANW. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks during the 1st quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new position in shares of Palo Alto Networks during the fourth quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the period. Ulland Investment Advisors LLC acquired a new position in shares of Palo Alto Networks during the first quarter worth $30,000. Finally, Central Bank & Trust Co. grew its stake in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Down 2.4 %

NASDAQ PANW opened at $337.93 on Wednesday. The firm has a market capitalization of $110.03 billion, a P/E ratio of 49.12, a PEG ratio of 5.03 and a beta of 1.13. The business has a fifty day simple moving average of $336.41 and a 200 day simple moving average of $312.63. Palo Alto Networks, Inc. has a 12 month low of $224.64 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results 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. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm earned $0.80 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Nikesh Arora sold 66,668 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $336.54, for a total transaction of $22,436,448.72. Following the completion of the sale, the chief executive officer now owns 694,228 shares in the company, valued at approximately $233,635,491.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $47,055,533.37. The disclosure for this sale can be found here. Insiders have sold 464,075 shares of company stock worth $154,029,567 in the last 90 days. Insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PANW. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Sanford C. Bernstein raised their price objective on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. 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 report on Tuesday, August 20th. JMP Securities restated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 20th. Finally, Piper Sandler upped their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $366.08.

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.