Anderson Hoagland & Co. Purchases 6,872 Shares of Palo Alto Networks, Inc. $PANW

Anderson Hoagland & Co. lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 41.7% in the third quarter, HoldingsChannel reports. The firm owned 23,341 shares of the network technology company’s stock after purchasing an additional 6,872 shares during the quarter. Anderson Hoagland & Co.’s holdings in Palo Alto Networks were worth $4,753,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PANW. Darwin Wealth Management LLC purchased a new position in shares of Palo Alto Networks in the 2nd quarter worth $25,000. Whipplewood Advisors LLC lifted its holdings in shares of Palo Alto Networks by 6,400.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in Palo Alto Networks in the second quarter worth about $28,000. Howard Hughes Medical Institute purchased a new position in Palo Alto Networks in the second quarter worth about $29,000. Finally, MTM Investment Management LLC bought a new stake in Palo Alto Networks during the second quarter worth approximately $31,000. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.7%

PANW opened at $188.12 on Wednesday. The company has a market capitalization of $131.12 billion, a price-to-earnings ratio of 119.06, a PEG ratio of 4.50 and a beta of 0.79. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $223.61. The business’s fifty day simple moving average is $201.09 and its 200-day simple moving average is $197.20.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Transactions at Palo Alto Networks

In other news, Director James J. Goetz sold 12,500 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $195.33, for a total value of $2,441,625.00. Following the sale, the director directly owned 75,184 shares in the company, valued at approximately $14,685,690.72. This trade represents a 14.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $189.39, for a total transaction of $132,573.00. Following the transaction, the chief accounting officer owned 46,805 shares of the company’s stock, valued at approximately $8,864,398.95. This trade represents a 1.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 376,922 shares of company stock valued at $77,963,339. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PANW. BMO Capital Markets raised their price objective on Palo Alto Networks from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. HSBC downgraded Palo Alto Networks from a “hold” rating to a “reduce” rating and set a $157.00 price target for the company. in a research report on Thursday, November 20th. Evercore ISI boosted their price objective on shares of Palo Alto Networks from $220.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Tigress Financial began coverage on shares of Palo Alto Networks in a research note on Friday, September 26th. They issued a “buy” rating and a $245.00 target price on the stock. Finally, Bank of America lifted their price target on shares of Palo Alto Networks from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Thirty-one equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $226.20.

About Palo Alto Networks

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.