Cary Street Partners Financial LLC Has $5.18 Million Stock Holdings in Palo Alto Networks, Inc. $PANW

Cary Street Partners Financial LLC grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,320 shares of the network technology company’s stock after purchasing an additional 2,853 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Palo Alto Networks were worth $5,181,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PANW. Vanguard Group Inc. raised its position in Palo Alto Networks by 2.0% during the second quarter. Vanguard Group Inc. now owns 64,016,374 shares of the network technology company’s stock worth $13,100,311,000 after acquiring an additional 1,240,830 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Palo Alto Networks by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 15,174,029 shares of the network technology company’s stock worth $3,093,262,000 after purchasing an additional 169,055 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Palo Alto Networks by 16.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,902,048 shares of the network technology company’s stock valued at $1,177,765,000 after purchasing an additional 950,765 shares during the period. First Trust Advisors LP lifted its stake in Palo Alto Networks by 7.7% in the 2nd quarter. First Trust Advisors LP now owns 5,295,588 shares of the network technology company’s stock valued at $1,083,689,000 after purchasing an additional 377,496 shares during the last quarter. Finally, Nuveen LLC bought a new position in Palo Alto Networks during the first quarter worth about $810,047,000. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $198.84 on Monday. The firm has a 50-day moving average of $205.98 and a 200-day moving average of $197.36. Palo Alto Networks, Inc. has a 52-week low of $144.15 and a 52-week high of $223.61. The stock has a market cap of $138.59 billion, a PE ratio of 125.85, a PEG ratio of 4.71 and a beta of 0.79.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. Palo Alto Networks’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm earned $1.56 earnings per share. Equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $191.91, for a total value of $23,177,738.34. Following the completion of the transaction, the executive vice president directly owned 327,645 shares of the company’s stock, valued at $62,878,351.95. The trade was a 26.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $189.39, for a total value of $132,573.00. Following the sale, the chief accounting officer owned 46,805 shares of the company’s stock, valued at approximately $8,864,398.95. The trade was a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,215,830 shares of company stock valued at $249,260,680 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PANW shares. Piper Sandler restated an “overweight” rating and issued a $230.00 price objective (up previously from $225.00) on shares of Palo Alto Networks in a research note on Thursday, November 20th. Citigroup restated an “outperform” rating on shares of Palo Alto Networks in a research note on Monday, October 27th. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Palo Alto Networks in a report on Thursday, November 20th. BMO Capital Markets upped their price objective on shares of Palo Alto Networks from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Finally, Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research note on Thursday, November 20th. Thirty research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $225.09.

Palo Alto Networks Company Profile

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.