Jackson Creek Investment Advisors LLC Reduces Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Jackson Creek Investment Advisors LLC trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,351 shares of the network technology company’s stock after selling 76 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in Palo Alto Networks were worth $458,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PANW. Norges Bank purchased a new stake in shares of Palo Alto Networks in the 4th quarter worth about $1,563,020,000. Vanguard Group Inc. grew its position in shares of Palo Alto Networks by 4.0% in the fourth 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. Axiom Investors LLC DE grew its position in shares of Palo Alto Networks by 359.3% in the fourth quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after purchasing an additional 749,199 shares during the last quarter. Swedbank AB acquired a new position in shares of Palo Alto Networks during the 1st quarter worth approximately $177,933,000. Finally, 1832 Asset Management L.P. lifted its stake in Palo Alto Networks by 63.8% in the 4th quarter. 1832 Asset Management L.P. now owns 640,755 shares of the network technology company’s stock valued at $188,946,000 after buying an additional 249,455 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PANW shares. Truist Financial boosted 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. JPMorgan Chase & Co. upped their target price on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Argus raised their price target on shares of Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Citigroup boosted their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley raised their target price on shares of Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $364.08.

Palo Alto Networks Trading Down 2.5 %

NASDAQ PANW opened at $346.15 on Thursday. The company’s fifty day simple moving average is $335.82 and its 200-day simple moving average is $310.46. The stock has a market cap of $112.08 billion, a P/E ratio of 50.31, a PEG ratio of 5.29 and a beta of 1.13. Palo Alto Networks, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 EPS. On average, research analysts expect that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the sale, the director now directly owns 12,639 shares in the company, valued at approximately $3,860,076.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mary Pat Mccarthy sold 10,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the transaction, the director now owns 31,517 shares of the company’s stock, valued at $10,983,359.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John P. Key sold 2,163 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the completion of the sale, the director now directly owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 339,572 shares of company stock valued at $111,126,265. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Profile

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.