Bellecapital International Ltd. Invests $206,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bellecapital International Ltd. acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 604 shares of the network technology company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PANW. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks during the 1st quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. grew 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 valued at $28,000 after buying an additional 96 shares during the last quarter. Sound Income Strategies LLC raised its stake in Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares during the last quarter. Cape Investment Advisory Inc. lifted its position in Palo Alto Networks by 1,111.1% during the 1st 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 period. Finally, New England Capital Financial Advisors LLC grew its stake in Palo Alto Networks by 833.3% during the 1st quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock valued at $32,000 after purchasing 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

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, October 10th. The shares were 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 of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PANW shares. BMO Capital Markets raised their price objective on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Piper Sandler increased their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. raised their target price on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, DA Davidson upped 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. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $375.79.

Palo Alto Networks Stock Up 0.2 %

Shares of Palo Alto Networks stock traded up $0.81 during trading hours on Monday, reaching $375.64. 834,969 shares of the company’s stock were exchanged, compared to its average volume of 4,020,032. The business has a fifty day moving average of $348.67 and a two-hundred day moving average of $323.39. The company has a market capitalization of $121.63 billion, a P/E ratio of 54.48, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last released 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 net margin of 32.11% and a return on equity of 26.83%. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, research analysts predict that Palo Alto Networks, Inc. will post 3.56 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.