Brookstone Capital Management Buys 10,649 Shares of Palo Alto Networks, Inc. $PANW

Brookstone Capital Management boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,775 shares of the network technology company’s stock after buying an additional 10,649 shares during the quarter. Brookstone Capital Management’s holdings in Palo Alto Networks were worth $16,651,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PANW. Norges Bank purchased a new position in Palo Alto Networks during the second quarter worth about $675,865,000. Kingstone Capital Partners Texas LLC purchased a new stake in Palo Alto Networks in the 2nd quarter valued at about $633,068,000. ABN AMRO Bank N.V. bought a new position in shares of Palo Alto Networks during the 2nd quarter worth approximately $340,883,000. Vanguard Group Inc. lifted its position in shares of Palo Alto Networks by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 64,016,374 shares of the network technology company’s stock worth $13,100,311,000 after buying an additional 1,240,830 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Palo Alto Networks by 97.9% in the 2nd quarter. California Public Employees Retirement System now owns 2,104,939 shares of the network technology company’s stock worth $430,755,000 after buying an additional 1,041,145 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $191.91, for a total value of $23,177,738.34. Following the completion of the transaction, the executive vice president directly owned 327,645 shares of the company’s stock, valued at approximately $62,878,351.95. This trade represents a 26.93% 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 on Monday, December 1st. The shares were sold at an average price of $189.39, for a total transaction of $132,573.00. Following the sale, the chief accounting officer directly owned 46,805 shares in the company, valued at $8,864,398.95. The trade was a 1.47% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 376,922 shares of company stock worth $77,963,339. 1.40% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Performance

PANW stock opened at $186.95 on Thursday. The stock has a fifty day moving average of $200.70 and a 200-day moving average of $197.13. Palo Alto Networks, Inc. has a fifty-two week low of $144.15 and a fifty-two week high of $223.61. The company has a market capitalization of $130.30 billion, a price-to-earnings ratio of 118.32, a PEG ratio of 4.47 and a beta of 0.79.

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

Analyst Upgrades and Downgrades

PANW has been the subject of a number of research analyst reports. Tigress Financial started coverage on Palo Alto Networks in a research report on Friday, September 26th. They set a “buy” rating and a $245.00 price target for the company. JPMorgan Chase & Co. restated an “overweight” rating and issued a $235.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, December 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Palo Alto Networks in a research report on Monday, November 24th. Robert W. Baird boosted their price target on shares of Palo Alto Networks from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Finally, Wolfe Research increased their price target on shares of Palo Alto Networks from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. Thirty-one analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.