4,579 Shares in Palo Alto Networks, Inc. $PANW Bought by Texas Capital Bank Wealth Management Services Inc

Key Points

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Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,579 shares of the network technology company's stock, valued at approximately $781,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Csenge Advisory Group increased its holdings in Palo Alto Networks by 2.4% during the first quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company's stock worth $381,000 after buying an additional 53 shares during the last quarter. GSG Advisors LLC boosted its position in Palo Alto Networks by 0.4% during the first quarter. GSG Advisors LLC now owns 12,450 shares of the network technology company's stock worth $2,154,000 after purchasing an additional 54 shares during the period. SYM FINANCIAL Corp boosted its position in Palo Alto Networks by 1.4% during the first quarter. SYM FINANCIAL Corp now owns 4,047 shares of the network technology company's stock worth $691,000 after purchasing an additional 55 shares during the period. Crew Capital Management Ltd. boosted its position in Palo Alto Networks by 2.5% during the first quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company's stock worth $394,000 after purchasing an additional 57 shares during the period. Finally, JDM Financial Group LLC boosted its position in Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock worth $59,000 after purchasing an additional 59 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the transaction, the executive vice president owned 101,135 shares of the company's stock, valued at $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Aparna Bawa sold 526 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $190.00, for a total value of $99,940.00. Following the completion of the transaction, the director directly owned 8,632 shares of the company's stock, valued at $1,640,080. This represents a 5.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 669,248 shares of company stock valued at $126,423,337 over the last three months. Insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Down 0.5%

Shares of NASDAQ PANW opened at $176.17 on Tuesday. The company has a market cap of $117.47 billion, a price-to-earnings ratio of 100.67, a PEG ratio of 4.35 and a beta of 0.94. Palo Alto Networks, Inc. has a 12 month low of $144.15 and a 12 month high of $210.39. The stock has a 50-day moving average price of $191.59 and a two-hundred day moving average price of $186.35.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Monday, August 18th. The network technology company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The firm's revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on PANW shares. Wells Fargo & Company lifted their price objective on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Barclays reduced their price objective on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Finally, Piper Sandler raised shares of Palo Alto Networks from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $200.00 to $225.00 in a research report on Tuesday, August 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $217.79.

About Palo Alto Networks

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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