Aljian Capital Management LLC Has $2.80 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Aljian Capital Management LLC grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 118.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,184 shares of the network technology company’s stock after buying an additional 4,431 shares during the period. Palo Alto Networks accounts for about 0.7% of Aljian Capital Management LLC’s holdings, making the stock its 22nd biggest holding. Aljian Capital Management LLC’s holdings in Palo Alto Networks were worth $2,797,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks in the first quarter valued at $25,000. Capital Advisors Ltd. LLC grew its stake in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after purchasing an additional 41 shares during the period. Sound Income Strategies LLC increased its holdings in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. boosted its holdings in shares of Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after buying an additional 100 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. The trade was a 11.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,252 shares of company stock worth $89,041,637. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Stock Down 1.9 %

NASDAQ PANW opened at $387.00 on Monday. The company’s 50 day moving average is $359.86 and its 200-day moving average is $336.73. The firm has a market cap of $126.01 billion, a P/E ratio of 53.38, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a 12-month low of $234.15 and a 12-month high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the business posted $0.80 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. UBS Group increased their price objective on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Truist Financial increased their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Northland Securities lifted their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $384.76.

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.