Janney Montgomery Scott LLC Has $41.55 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Cerbat Gem

Janney Montgomery Scott LLC decreased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 121,563 shares of the network technology company’s stock after selling 2,345 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Palo Alto Networks were worth $41,550,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Norden Group LLC grew its holdings in shares of Palo Alto Networks by 65.6% during the 1st quarter. Norden Group LLC now owns 1,538 shares of the network technology company’s stock worth $437,000 after purchasing an additional 609 shares in the last quarter. Lincoln National Corp boosted its stake in Palo Alto Networks by 83.9% during the first quarter. Lincoln National Corp now owns 9,351 shares of the network technology company’s stock worth $2,657,000 after buying an additional 4,267 shares in the last quarter. FORA Capital LLC acquired a new stake in Palo Alto Networks during the first quarter worth $2,095,000. Financial Counselors Inc. increased its holdings in Palo Alto Networks by 5.4% in the 1st quarter. Financial Counselors Inc. now owns 27,729 shares of the network technology company’s stock valued at $7,879,000 after buying an additional 1,431 shares during the period. Finally, Mutual Advisors LLC raised its stake in shares of Palo Alto Networks by 134.2% in the 1st quarter. Mutual Advisors LLC now owns 8,751 shares of the network technology company’s stock valued at $2,486,000 after buying an additional 5,015 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In related news, CEO Nikesh Arora sold 66,666 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the transaction, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the sale, the director now directly owns 41,517 shares in the company, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the transaction, the chief executive officer now directly owns 639,994 shares in the company, valued at approximately $219,505,142.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock worth $89,383,077 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $362.64 on Monday. The company has a market cap of $118.08 billion, a PE ratio of 50.02, a PEG ratio of 5.22 and a beta of 1.12. The stock has a 50-day simple moving average of $352.69 and a 200 day simple moving average of $329.75. Palo Alto Networks, Inc. has a 52-week low of $233.81 and a 52-week high of $384.00.

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, topping analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. On average, research analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PANW. Piper Sandler upped their target price 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. Wedbush reaffirmed an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a research note on Friday, August 16th. KeyCorp lifted their price objective on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Morgan Stanley upped their target price on shares of Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Bank of America lifted their price target on shares of Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $378.49.

Get Our Latest Stock Analysis on PANW

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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