Jones Financial Companies Lllp Buys 31,079 Shares of Palo Alto Networks, Inc. $PANW

Jones Financial Companies Lllp lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 27.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,638 shares of the network technology company’s stock after purchasing an additional 31,079 shares during the quarter. Jones Financial Companies Lllp’s holdings in Palo Alto Networks were worth $29,070,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its holdings in shares of Palo Alto Networks by 29.4% in the third quarter. Exchange Traded Concepts LLC now owns 32,155 shares of the network technology company’s stock worth $6,547,000 after purchasing an additional 7,301 shares during the last quarter. Silver Oak Securities Incorporated grew its holdings in Palo Alto Networks by 240.1% in the 3rd quarter. Silver Oak Securities Incorporated now owns 11,732 shares of the network technology company’s stock worth $2,389,000 after acquiring an additional 8,282 shares during the last quarter. GoalVest Advisory LLC increased its position in shares of Palo Alto Networks by 1,248.9% in the third quarter. GoalVest Advisory LLC now owns 10,899 shares of the network technology company’s stock valued at $2,219,000 after acquiring an additional 10,091 shares during the period. Schroder Investment Management Group raised its stake in shares of Palo Alto Networks by 7.9% during the second quarter. Schroder Investment Management Group now owns 2,234,551 shares of the network technology company’s stock valued at $457,279,000 after acquiring an additional 163,718 shares during the last quarter. Finally, Richmond Investment Services LLC raised its stake in shares of Palo Alto Networks by 87.2% during the second quarter. Richmond Investment Services LLC now owns 3,286 shares of the network technology company’s stock valued at $672,000 after acquiring an additional 1,531 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PANW. HSBC downgraded Palo Alto Networks from a “hold” rating to a “reduce” rating and set a $157.00 price target on the stock. in a report on Thursday, November 20th. Bank of America upped their target price on Palo Alto Networks from $215.00 to $240.00 and gave the company a “buy” rating in a report on Monday, October 20th. Royal Bank Of Canada lifted their price target on shares of Palo Alto Networks from $232.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. TD Cowen upped their price objective on shares of Palo Alto Networks from $230.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Hsbc Global Res cut shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research report on Thursday, November 20th. Thirty-one investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $229.09.

Palo Alto Networks Trading Down 5.2%

Palo Alto Networks stock opened at $166.24 on Wednesday. Palo Alto Networks, Inc. has a 12 month low of $144.15 and a 12 month high of $223.61. The company has a market capitalization of $115.87 billion, a price-to-earnings ratio of 105.22, a price-to-earnings-growth ratio of 4.18 and a beta of 0.75. The business’s fifty day simple moving average is $186.65 and its two-hundred day simple moving average is $194.25.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations 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 was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.56 EPS. On average, equities research analysts predict 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 James J. Goetz sold 12,500 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were 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. This represents a 14.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $191.91, for a total transaction of $23,177,738.34. Following the completion of the sale, the executive vice president owned 327,645 shares of the company’s stock, valued at $62,878,351.95. This represents a 26.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 260,542 shares of company stock valued at $49,910,995. Insiders own 1.40% of the company’s stock.

About Palo Alto Networks

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.