Lewis Asset Management LLC Buys 99 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Markets Daily

Lewis Asset Management LLC boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,082 shares of the network technology company’s stock after purchasing an additional 99 shares during the period. Lewis Asset Management LLC’s holdings in Palo Alto Networks were worth $370,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PANW. Alpha Cubed Investments LLC grew its holdings in shares of Palo Alto Networks by 16.4% in the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after acquiring an additional 32,626 shares during the period. Wealthspire Advisors LLC lifted its holdings in Palo Alto Networks by 1.7% in the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after acquiring an additional 75 shares during the period. Handelsbanken Fonder AB boosted its position in Palo Alto Networks by 3.8% in the third quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock worth $67,232,000 after purchasing an additional 7,291 shares during the last quarter. Parsons Capital Management Inc. RI grew its stake in shares of Palo Alto Networks by 4.5% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock valued at $914,000 after purchasing an additional 116 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in shares of Palo Alto Networks by 38.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 14,229 shares of the network technology company’s stock valued at $4,043,000 after purchasing an additional 3,965 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

PANW has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler boosted their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Truist Financial raised their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Rosenblatt Securities lifted their target price on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Finally, Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $378.49.

Read Our Latest Research Report on Palo Alto Networks

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the sale, the director now owns 41,517 shares of the company’s stock, valued at $14,175,564.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,252 shares of company stock worth $89,383,077. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $387.00 on Friday. The company has a market cap of $126.01 billion, a P/E ratio of 53.38, a PEG ratio of 5.23 and a beta of 1.12. The firm has a 50-day simple moving average of $353.98 and a two-hundred day simple moving average of $331.32. Palo Alto Networks, Inc. has a 1 year low of $234.15 and a 1 year high of $387.21.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

About Palo Alto Networks

(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.

Further Reading

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report).