AdvisorShares Investments LLC Purchases Shares of 490 Palo Alto Networks, Inc. (NASDAQ:PANW)

AdvisorShares Investments LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 490 shares of the network technology company’s stock, valued at approximately $305,000.

A number of other large investors also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in Palo Alto Networks by 12.3% in the fourth quarter. Geode Capital Management LLC now owns 1,255,426 shares of the network technology company’s stock valued at $697,942,000 after acquiring an additional 137,962 shares during the period. Nuveen Asset Management LLC increased its position in shares of Palo Alto Networks by 317.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,237,932 shares of the network technology company’s stock valued at $689,231,000 after buying an additional 941,271 shares in the last quarter. First Trust Advisors LP increased its position in shares of Palo Alto Networks by 18.3% in the fourth quarter. First Trust Advisors LP now owns 1,043,598 shares of the network technology company’s stock valued at $581,034,000 after buying an additional 161,660 shares in the last quarter. Norges Bank purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth approximately $522,352,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Palo Alto Networks by 44.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 462,983 shares of the network technology company’s stock worth $257,771,000 after purchasing an additional 141,612 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Piper Sandler dropped their price target on Palo Alto Networks from $675.00 to $650.00 in a research report on Wednesday, July 13th. The Goldman Sachs Group boosted their price target on Palo Alto Networks from $650.00 to $700.00 in a research report on Tuesday, April 12th. Deutsche Bank Aktiengesellschaft dropped their price target on Palo Alto Networks from $605.00 to $587.00 in a research report on Tuesday, May 17th. Morgan Stanley boosted their price target on Palo Alto Networks from $670.00 to $823.00 and gave the stock an “overweight” rating in a research report on Monday, April 25th. Finally, KeyCorp upped their target price on Palo Alto Networks from $610.00 to $729.00 and gave the company an “overweight” rating in a report on Tuesday, May 17th. Three research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $630.88.

Palo Alto Networks Trading Down 0.1 %

PANW opened at $501.37 on Friday. Palo Alto Networks, Inc. has a one year low of $358.37 and a one year high of $640.90. The business’s 50-day simple moving average is $502.07 and its 200-day simple moving average is $530.35.

Palo Alto Networks (NASDAQ:PANWGet Rating) last released its quarterly earnings data on Thursday, May 19th. The network technology company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.21). Palo Alto Networks had a negative net margin of 7.54% and a negative return on equity of 57.50%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company posted ($0.62) EPS. The company’s revenue was up 29.1% compared to the same quarter last year. On average, analysts expect that Palo Alto Networks, Inc. will post -0.73 earnings per share for the current year.

Insider Activity

In other news, EVP Lee Klarich sold 3,500 shares of the stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $479.46, for a total value of $1,678,110.00. Following the transaction, the executive vice president now owns 252,551 shares in the company, valued at approximately $121,088,102.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Lee Klarich sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $479.46, for a total transaction of $1,678,110.00. Following the transaction, the executive vice president now owns 252,551 shares in the company, valued at approximately $121,088,102.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $500.58, for a total value of $6,006,960.00. Following the transaction, the executive vice president now owns 671,812 shares in the company, valued at approximately $336,295,650.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,170 shares of company stock worth $418,628,327. 2.20% of the stock is currently owned by insiders.

Palo Alto Networks Profile

(Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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