Janney Capital Management LLC Sells 217 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Markets Daily

Janney Capital Management LLC trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 1.3% in the third quarter, HoldingsChannel.com reports. The firm owned 17,138 shares of the network technology company’s stock after selling 217 shares during the period. Janney Capital Management LLC’s holdings in Palo Alto Networks were worth $5,858,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Private Wealth Partners LLC raised its stake in shares of Palo Alto Networks by 12.1% in the 3rd quarter. Private Wealth Partners LLC now owns 1,856 shares of the network technology company’s stock valued at $634,000 after buying an additional 200 shares in the last quarter. Optas LLC increased its stake in Palo Alto Networks by 11.2% in the third quarter. Optas LLC now owns 1,000 shares of the network technology company’s stock valued at $342,000 after acquiring an additional 101 shares during the period. Princeton Global Asset Management LLC acquired a new position in Palo Alto Networks in the third quarter worth about $33,000. Chicago Partners Investment Group LLC lifted its stake in Palo Alto Networks by 5.5% during the third quarter. Chicago Partners Investment Group LLC now owns 2,096 shares of the network technology company’s stock worth $751,000 after purchasing an additional 110 shares during the period. Finally, Weatherly Asset Management L. P. boosted its holdings in Palo Alto Networks by 7.8% during the third quarter. Weatherly Asset Management L. P. now owns 16,151 shares of the network technology company’s stock valued at $5,520,000 after purchasing an additional 1,175 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $362.64 on Friday. The stock has a market cap of $118.08 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 5.22 and a beta of 1.12. The business has a 50 day simple moving average of $352.69 and a 200 day simple moving average of $329.39. 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 issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, analysts predict that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PANW shares. Scotiabank increased their target price on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Needham & Company LLC upped their target price on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Wedbush reissued an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. Finally, Truist Financial upped their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $378.49.

Read Our Latest Analysis on Palo Alto Networks

Insider Activity

In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction 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 completion of the sale, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 315,252 shares of company stock worth $107,138,877 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks 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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