Crossmark Global Holdings Inc. Has $462,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Crossmark Global Holdings Inc. raised its position in Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) by 179.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,815 shares of the network technology company’s stock after buying an additional 1,806 shares during the period. Crossmark Global Holdings Inc.’s holdings in Palo Alto Networks were worth $462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. Jennison Associates LLC boosted its position in Palo Alto Networks by 239.8% in the third quarter. Jennison Associates LLC now owns 2,171,621 shares of the network technology company’s stock valued at $355,690,000 after buying an additional 1,532,582 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Palo Alto Networks by 198.9% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 939,768 shares of the network technology company’s stock worth $153,925,000 after acquiring an additional 625,326 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Palo Alto Networks by 3,935.7% in the third quarter. National Bank of Canada FI now owns 446,146 shares of the network technology company’s stock worth $73,192,000 after acquiring an additional 435,091 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Palo Alto Networks by 209.2% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 584,883 shares of the network technology company’s stock worth $95,804,000 after acquiring an additional 395,751 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC raised its stake in shares of Palo Alto Networks by 368.8% in the third quarter. Atalanta Sosnoff Capital LLC now owns 483,600 shares of the network technology company’s stock worth $79,209,000 after acquiring an additional 380,439 shares during the last quarter. 81.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

Shares of PANW opened at $146.10 on Monday. Palo Alto Networks, Inc. has a 12 month low of $132.22 and a 12 month high of $213.63. The firm has a fifty day simple moving average of $152.91 and a 200 day simple moving average of $165.64.

Palo Alto Networks (NASDAQ:PANWGet Rating) last announced its earnings results on Thursday, November 17th. The network technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Palo Alto Networks had a negative net margin of 2.46% and a negative return on equity of 5.02%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 0.78 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 15,639 shares of the stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $135.88, for a total transaction of $2,125,027.32. Following the completion of the transaction, the executive vice president now owns 619,266 shares in the company, valued at $84,145,864.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palo Alto Networks news, EVP Nir Zuk sold 26,625 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $138.46, for a total transaction of $3,686,497.50. Following the sale, the executive vice president now directly owns 1,882,898 shares of the company’s stock, valued at $260,706,057.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 15,639 shares of the company’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $135.88, for a total transaction of $2,125,027.32. Following the sale, the executive vice president now directly owns 619,266 shares in the company, valued at $84,145,864.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 299,930 shares of company stock worth $48,677,038. 3.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PANW shares. Robert W. Baird reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Palo Alto Networks in a research note on Wednesday, October 19th. KeyCorp dropped their target price on shares of Palo Alto Networks from $227.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, November 16th. Guggenheim downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 17th. Piper Sandler dropped their price target on shares of Palo Alto Networks from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, January 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Palo Alto Networks from $209.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, November 18th. Six equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $229.24.

Palo Alto Networks Profile

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Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on a customer's network, as well as their instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

See Also

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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