315 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by Hara Capital LLC

Hara Capital LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 315 shares of the network technology company’s stock, valued at approximately $108,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC raised its stake in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares in the last quarter. Sound Income Strategies LLC raised its stake in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its stake in Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 55 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks during the first quarter worth $25,000. Finally, First PREMIER Bank raised its stake in Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after acquiring an additional 31 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock valued at $89,383,077 in the last quarter. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

PANW has been the subject of several recent analyst reports. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Robert W. Baird raised their target price on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Truist Financial raised their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft raised their target price on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Northland Securities raised their target price on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.49.

Palo Alto Networks Stock Performance

Shares of PANW opened at $387.00 on Friday. The stock has a 50 day simple moving average of $353.98 and a 200 day simple moving average of $331.32. Palo Alto Networks, Inc. has a 52-week low of $234.15 and a 52-week high of $387.21. The firm has a market capitalization of $126.01 billion, a PE ratio of 53.38, a P/E/G ratio of 5.23 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the firm earned $0.80 EPS. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts predict that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

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.