Brookstone Capital Management Purchases 10,649 Shares of Palo Alto Networks, Inc. $PANW

Brookstone Capital Management increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,775 shares of the network technology company’s stock after buying an additional 10,649 shares during the quarter. Brookstone Capital Management’s holdings in Palo Alto Networks were worth $16,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after purchasing an additional 4,031 shares during the last quarter. Bison Wealth LLC lifted its holdings in Palo Alto Networks by 169.1% during the 4th quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock worth $948,000 after buying an additional 3,275 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Palo Alto Networks by 93.1% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,719 shares of the network technology company’s stock valued at $293,000 after buying an additional 829 shares during the period. Gabelli Funds LLC raised its position in shares of Palo Alto Networks by 4.4% during the first quarter. Gabelli Funds LLC now owns 1,660 shares of the network technology company’s stock worth $283,000 after acquiring an additional 70 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Palo Alto Networks by 0.7% in the first quarter. Gamco Investors INC. ET AL now owns 17,733 shares of the network technology company’s stock worth $3,026,000 after acquiring an additional 117 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.6%

PANW opened at $186.95 on Thursday. The company has a fifty day moving average price of $200.70 and a two-hundred day moving average price of $197.13. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $223.61. The company has a market cap of $130.30 billion, a P/E ratio of 118.32, a price-to-earnings-growth ratio of 4.47 and a beta of 0.79.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on PANW shares. JMP Securities raised their price target on shares of Palo Alto Networks from $212.00 to $250.00 and gave the stock a “market outperform” rating in a report on Monday, October 27th. Mizuho set a $220.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, December 16th. Cantor Fitzgerald restated an “overweight” rating on shares of Palo Alto Networks in a report on Monday, November 24th. Royal Bank Of Canada upped their price target on shares of Palo Alto Networks from $232.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Finally, Citigroup reissued a “market outperform” rating on shares of Palo Alto Networks in a research report on Monday, December 15th. Thirty-one 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 company’s stock. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $226.20.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $211.92, for a total transaction of $25,594,426.08. Following the completion of the sale, the executive vice president owned 149,190 shares in the company, valued at approximately $31,616,344.80. The trade was a 44.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James J. Goetz sold 12,500 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the transaction, the director owned 75,184 shares in the company, valued at approximately $14,685,690.72. The trade was a 14.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 376,922 shares of company stock valued at $77,963,339 over the last ninety days. 1.40% of the stock is owned by company insiders.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.