Lindbrook Capital LLC Purchases 82 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Lindbrook Capital LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,837 shares of the network technology company’s stock after acquiring an additional 82 shares during the period. Lindbrook Capital LLC’s holdings in Palo Alto Networks were worth $1,311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PANW. Alpha Cubed Investments LLC raised its stake in shares of Palo Alto Networks by 16.4% during the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after buying an additional 32,626 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in shares of Palo Alto Networks during the 3rd quarter valued at $1,156,000. Wealthspire Advisors LLC raised its position in shares of Palo Alto Networks by 1.7% during the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after acquiring an additional 75 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Palo Alto Networks by 3.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock worth $67,232,000 after purchasing an additional 7,291 shares during the last quarter. Finally, Harvest Portfolios Group Inc. acquired a new stake in shares of Palo Alto Networks during the third quarter worth $24,414,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 159,009 shares in the company, valued at $54,854,924.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,252 shares of company stock valued at $89,383,077. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $391.40 on Friday. The company has a market cap of $127.44 billion, a P/E ratio of 53.99, a P/E/G ratio of 5.59 and a beta of 1.12. The firm’s fifty day moving average price is $355.13 and its two-hundred day moving average price is $332.47. Palo Alto Networks, Inc. has a one year low of $234.15 and a one year high of $393.21.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm earned $0.80 EPS. The business’s revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PANW. Scotiabank increased their target price on Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. OTR Global reissued a “negative” rating on shares of Palo Alto Networks in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Sanford C. Bernstein lifted their price target on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, Piper Sandler upped their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Company Profile

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.