Tower Research Capital LLC TRC Buys 26,022 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Tower Research Capital LLC TRC boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 95.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,176 shares of the network technology company’s stock after acquiring an additional 26,022 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Palo Alto Networks were worth $15,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Avantax Advisory Services Inc. boosted its holdings in shares of Palo Alto Networks by 3.5% during the third quarter. Avantax Advisory Services Inc. now owns 7,958 shares of the network technology company’s stock worth $1,866,000 after purchasing an additional 271 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Palo Alto Networks by 1.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 605,124 shares of the network technology company’s stock worth $141,865,000 after buying an additional 9,596 shares during the period. Atria Wealth Solutions Inc. grew its position in shares of Palo Alto Networks by 20.4% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 26,531 shares of the network technology company’s stock worth $6,220,000 after buying an additional 4,503 shares during the last quarter. Parnassus Investments LLC purchased a new position in shares of Palo Alto Networks during the third quarter valued at approximately $433,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Palo Alto Networks by 3.3% during the third quarter. Janney Montgomery Scott LLC now owns 105,336 shares of the network technology company’s stock valued at $24,695,000 after buying an additional 3,395 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $5.32 during midday trading on Wednesday, hitting $295.41. The company had a trading volume of 3,734,605 shares, compared to its average volume of 5,087,727. The company has a market cap of $95.65 billion, a price-to-earnings ratio of 42.41, a PEG ratio of 4.53 and a beta of 1.10. The company has a fifty day moving average of $292.67 and a two-hundred day moving average of $303.03. Palo Alto Networks, Inc. has a 12-month low of $201.17 and a 12-month high of $380.84.

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

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the 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 completion of the sale, the president now owns 20,501 shares in the company, valued at approximately $6,292,166.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Lee Klarich sold 121,276 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the transaction, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at $49,895,983.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the transaction, the president now directly owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,947 shares of company stock worth $80,644,647. 3.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Susquehanna raised their target price on Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research note on Tuesday, May 21st. Capital One Financial cut Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target on the stock. in a research note on Wednesday, February 21st. Redburn Atlantic increased their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Barclays dropped their target price on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Twelve equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $322.78.

View Our Latest Research Report on PANW

Palo Alto Networks Company Profile

(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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