Rep. Marjorie Taylor Greene Purchases Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Palo Alto Networks, Inc. (NASDAQ:PANW). In a filing disclosed on November 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Palo Alto Networks stock on November 7th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Southern (NYSE:SO) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Hershey (NYSE:HSY) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Blackstone (NYSE:BX) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 11/7/2024.

Palo Alto Networks Stock Up 0.1 %

NASDAQ PANW traded up $0.54 on Tuesday, reaching $398.64. 505,790 shares of the stock traded hands, compared to its average volume of 3,866,460. The firm’s fifty day simple moving average is $355.84 and its 200 day simple moving average is $333.78. The company has a market cap of $129.80 billion, a price-to-earnings ratio of 54.71, a P/E/G ratio of 5.68 and a beta of 1.12. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $400.69.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results 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. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Activity

In other news, CEO Nikesh Arora sold 66,666 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the transaction, the chief executive officer now owns 639,994 shares in the company, valued at approximately $219,505,142.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now owns 41,517 shares in the company, valued at $14,175,564.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nikesh Arora sold 66,666 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the transaction, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,252 shares of company stock worth $89,383,077 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after purchasing an additional 3,249,594 shares during the period. Jennison Associates LLC boosted its stake in Palo Alto Networks by 50.1% during the 3rd quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock valued at $1,075,718,000 after purchasing an additional 1,050,173 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after acquiring an additional 1,002,239 shares during the last quarter. Swedbank AB bought a new position in Palo Alto Networks in the first quarter valued at about $177,933,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Palo Alto Networks during the 3rd quarter valued at about $174,124,000. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PANW. Northland Securities increased their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a report on Tuesday, August 20th. Cantor Fitzgerald upgraded shares of Palo Alto Networks to a “strong-buy” rating in a research report on Friday, November 1st. Oppenheimer boosted their price objective on shares of Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Wedbush reissued an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a research note on Friday, August 16th. Finally, Needham & Company LLC upped their target price on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $378.87.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

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.