Pittenger & Anderson Inc. Purchases 8,333 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Pittenger & Anderson Inc. increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 8.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,602 shares of the network technology company's stock after acquiring an additional 8,333 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Palo Alto Networks were worth $18,702,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after buying an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after buying an additional 6,725,148 shares during the last quarter. Norges Bank acquired a new position in shares of Palo Alto Networks during the fourth quarter valued at about $970,736,000. Northern Trust Corp raised its position in shares of Palo Alto Networks by 133.7% during the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after buying an additional 4,486,654 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock valued at $1,533,419,000 after buying an additional 3,841,359 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Down 2.4%

Shares of PANW opened at $187.39 on Friday. The stock's fifty day simple moving average is $195.04 and its 200-day simple moving average is $185.75. The firm has a market capitalization of $124.95 billion, a PE ratio of 107.08, a price-to-earnings-growth ratio of 5.23 and a beta of 0.97. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. Analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, Director Aparna Bawa sold 526 shares of Palo Alto Networks stock in a transaction on Friday, May 30th. The shares were sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the sale, the director owned 8,632 shares of the company's stock, valued at approximately $1,640,080. The trade was a 5.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction on Monday, June 23rd. The shares were 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 directly owned 101,135 shares in the company, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 569,248 shares of company stock valued at $111,279,829 over the last three months. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PANW shares. Wells Fargo & Company upped their price objective on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Roth Capital started coverage on shares of Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective for the company. Barclays cut 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. TD Securities reissued a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, Truist Financial lowered their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $208.00.

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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