Aptus Capital Advisors LLC Has $461,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Aptus Capital Advisors LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 89.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,965 shares of the network technology company’s stock after purchasing an additional 930 shares during the period. Aptus Capital Advisors LLC’s holdings in Palo Alto Networks were worth $461,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. RB Capital Management LLC raised its position in Palo Alto Networks by 19.9% in the 1st quarter. RB Capital Management LLC now owns 602 shares of the network technology company’s stock worth $375,000 after purchasing an additional 100 shares during the last quarter. Morgens Waterfall Vintiadis & Co. Inc. bought a new stake in shares of Palo Alto Networks during the first quarter worth $6,910,000. United Bank lifted its stake in shares of Palo Alto Networks by 11.7% during the first quarter. United Bank now owns 2,822 shares of the network technology company’s stock valued at $1,757,000 after acquiring an additional 296 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Palo Alto Networks by 13.6% during the first quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company’s stock valued at $963,000 after acquiring an additional 185 shares during the period. Finally, Prudential PLC bought a new position in Palo Alto Networks in the first quarter valued at about $1,022,000. Institutional investors own 85.69% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 30,678 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $266.15, for a total value of $8,164,949.70. Following the completion of the sale, the chief executive officer now owns 866,395 shares of the company’s stock, valued at $230,591,029.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction on Monday, December 4th. The shares were sold at an average price of $286.59, for a total transaction of $12,896,550.00. Following the completion of the transaction, the executive vice president now owns 185,217 shares of the company’s stock, valued at $53,081,340.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nikesh Arora sold 30,678 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $266.15, for a total value of $8,164,949.70. Following the completion of the transaction, the chief executive officer now directly owns 866,395 shares in the company, valued at $230,591,029.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 419,426 shares of company stock valued at $119,134,439. 3.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Palo Alto Networks from $272.00 to $326.00 and gave the company an “overweight” rating in a research note on Monday, December 11th. Truist Financial raised their price objective on shares of Palo Alto Networks from $275.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Citigroup upped their target price on shares of Palo Alto Networks from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Monday, January 29th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $310.00 price objective on shares of Palo Alto Networks in a report on Thursday, November 16th. Six research analysts have rated the stock with a hold rating and thirty-five have issued a buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $289.15.

Get Our Latest Analysis on Palo Alto Networks

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $376.90 on Friday. The company has a 50 day simple moving average of $317.23 and a 200 day simple moving average of $269.19. Palo Alto Networks, Inc. has a 1 year low of $162.81 and a 1 year high of $380.84. The firm has a market cap of $118.84 billion, a PE ratio of 214.15, a price-to-earnings-growth ratio of 5.18 and a beta of 1.26.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its quarterly earnings results on Wednesday, November 15th. The network technology company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.15. Palo Alto Networks had a net margin of 8.52% and a return on equity of 48.58%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.84 billion. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 2.64 earnings per share for the current fiscal year.

Palo Alto Networks Company Profile

(Free Report)

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.

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

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