Newbridge Financial Services Group Inc. Purchases 158 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Newbridge Financial Services Group Inc. lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 5.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,920 shares of the network technology company’s stock after buying an additional 158 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Palo Alto Networks were worth $861,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Palo Alto Networks by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock valued at $8,129,800,000 after purchasing an additional 1,058,127 shares during the last quarter. Norges Bank acquired a new stake in Palo Alto Networks in the 4th quarter valued at about $1,563,020,000. Northern Trust Corp lifted its stake in Palo Alto Networks by 2.6% in the 3rd quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock valued at $804,199,000 after purchasing an additional 86,995 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Palo Alto Networks by 1.0% in the 4th quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock valued at $924,905,000 after purchasing an additional 30,013 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Palo Alto Networks by 83.1% during the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after acquiring an additional 1,187,915 shares during the last quarter. 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, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President William D. Jenkins, Jr. sold 1,621 shares of Palo Alto Networks stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total value of $497,517.32. Following the transaction, the president now directly owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,182 shares of company stock worth $74,850,597. Insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of analyst reports. Evercore ISI lowered their target price on shares of Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a report on Tuesday, May 14th. JMP Securities reissued a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Truist Financial increased their target price on shares of Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Sanford C. Bernstein raised their price objective on shares of Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Northland Securities downgraded shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price target for the company. in a report on Wednesday, February 21st. Twelve research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $322.78.

Read Our Latest Stock Analysis on PANW

Palo Alto Networks Stock Performance

Shares of PANW traded down $0.89 during mid-day trading on Tuesday, hitting $318.70. 271,279 shares of the company’s stock were exchanged, compared to its average volume of 4,880,384. The stock’s 50-day moving average is $298.99 and its 200-day moving average is $305.45. The company has a market cap of $103.20 billion, a price-to-earnings ratio of 46.45, a P/E/G ratio of 4.86 and a beta of 1.11. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last issued its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

About Palo Alto Networks

(Free Report)

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.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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