Cary Street Partners Financial LLC Has $13.71 Million Stake in Palo Alto Networks, Inc. $PANW

Cary Street Partners Financial LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 74,444 shares of the network technology company’s stock after acquiring an additional 7,569 shares during the period. Cary Street Partners Financial LLC’s holdings in Palo Alto Networks were worth $13,713,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PANW. Westfield Capital Management Co. LP acquired a new stake in Palo Alto Networks in the third quarter valued at $75,412,000. American Century Companies Inc. lifted its stake in Palo Alto Networks by 134.1% in the third quarter. American Century Companies Inc. now owns 672,129 shares of the network technology company’s stock valued at $136,859,000 after acquiring an additional 384,985 shares during the last quarter. US Bancorp DE lifted its stake in Palo Alto Networks by 0.6% in the third quarter. US Bancorp DE now owns 1,364,442 shares of the network technology company’s stock valued at $277,828,000 after acquiring an additional 8,344 shares during the last quarter. Generali Investments Management Co LLC lifted its stake in Palo Alto Networks by 38.4% in the third quarter. Generali Investments Management Co LLC now owns 54,401 shares of the network technology company’s stock valued at $11,077,000 after acquiring an additional 15,091 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in Palo Alto Networks in the fourth quarter valued at $1,554,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora purchased 68,085 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were acquired at an average cost of $146.87 per share, with a total value of $9,999,643.95. Following the completion of the transaction, the chief executive officer owned 343,394 shares in the company, valued at $50,434,276.78. The trade was a 24.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $160.42, for a total transaction of $802,100.00. Following the transaction, the executive vice president directly owned 150,250 shares in the company, valued at approximately $24,103,105. This represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,756 shares of company stock valued at $5,076,355 in the last quarter. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Scotiabank reiterated an “outperform” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Benchmark started coverage on shares of Palo Alto Networks in a research report on Wednesday, April 1st. They issued a “buy” rating and a $200.00 price objective on the stock. Argus raised shares of Palo Alto Networks to a “strong-buy” rating in a research report on Friday, February 20th. Jefferies Financial Group reissued a “buy” rating and issued a $265.00 price objective on shares of Palo Alto Networks in a research report on Thursday, May 14th. Finally, Sanford C. Bernstein set a $209.00 price objective on shares of Palo Alto Networks and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $226.33.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $260.58 on Tuesday. Palo Alto Networks, Inc. has a 52 week low of $139.57 and a 52 week high of $261.41. The firm has a market cap of $212.63 billion, a price-to-earnings ratio of 143.97, a P/E/G ratio of 9.39 and a beta of 0.77. The firm’s 50-day simple moving average is $185.14 and its 200 day simple moving average is $182.38.

Palo Alto Networks Company Profile

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.