Palo Alto Networks, Inc. $PANW Shares Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 32.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,997 shares of the network technology company’s stock after buying an additional 4,625 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Palo Alto Networks were worth $3,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Klingman & Associates LLC increased its holdings in shares of Palo Alto Networks by 2.2% in the third quarter. Klingman & Associates LLC now owns 2,131 shares of the network technology company’s stock valued at $434,000 after purchasing an additional 46 shares during the period. Contravisory Investment Management Inc. boosted its position in Palo Alto Networks by 1.8% in the third quarter. Contravisory Investment Management Inc. now owns 2,742 shares of the network technology company’s stock valued at $558,000 after buying an additional 48 shares during the last quarter. Mattern Wealth Management LLC increased its holdings in Palo Alto Networks by 2.9% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,692 shares of the network technology company’s stock worth $345,000 after buying an additional 48 shares during the period. Astoria Portfolio Advisors LLC. increased its holdings in Palo Alto Networks by 2.1% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 2,467 shares of the network technology company’s stock worth $496,000 after buying an additional 50 shares during the period. Finally, PTM Wealth Management LLC raised its position in Palo Alto Networks by 4.0% during the 3rd quarter. PTM Wealth Management LLC now owns 1,300 shares of the network technology company’s stock worth $276,000 after buying an additional 50 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $217.94, for a total transaction of $26,321,485.56. Following the completion of the sale, the executive vice president owned 356,409 shares of the company’s stock, valued at $77,675,777.46. This trade represents a 25.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James J. Goetz sold 12,500 shares of Palo Alto Networks stock in a transaction on Monday, December 8th. The shares were sold at an average price of $195.33, for a total value of $2,441,625.00. Following the completion of the sale, the director owned 75,184 shares in the company, valued at $14,685,690.72. This represents a 14.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 382,016 shares of company stock valued at $76,386,460. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Trading Down 0.0%

Shares of PANW stock opened at $187.66 on Friday. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61. The company’s 50-day moving average price is $191.35 and its 200-day moving average price is $195.68. The stock has a market cap of $130.80 billion, a price-to-earnings ratio of 118.77, a PEG ratio of 4.47 and a beta of 0.76.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm earned $1.56 earnings per share. Palo Alto Networks’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of recent research reports. Stephens lifted their price objective on Palo Alto Networks from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, November 20th. Rosenblatt Securities boosted their price objective on Palo Alto Networks from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Mizuho set a $220.00 price objective on Palo Alto Networks in a report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Palo Alto Networks in a research report on Monday, December 29th. Finally, Northland Securities raised their price objective on Palo Alto Networks from $177.00 to $190.00 and gave the company a “market perform” rating in a report on Thursday, November 20th. Thirty-one analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $229.09.

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.