Brookstone Capital Management grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 80.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 154,065 shares of the network technology company’s stock after acquiring an additional 68,519 shares during the period. Brookstone Capital Management’s holdings in Palo Alto Networks were worth $24,700,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Darwin Wealth Management LLC purchased a new stake in Palo Alto Networks during the 2nd quarter valued at $25,000. Steph & Co. increased its holdings in shares of Palo Alto Networks by 88.2% in the 4th quarter. Steph & Co. now owns 143 shares of the network technology company’s stock worth $26,000 after purchasing an additional 67 shares in the last quarter. Knuff & Co LLC purchased a new position in shares of Palo Alto Networks in the fourth quarter worth $26,000. Sittner & Nelson LLC raised its stake in shares of Palo Alto Networks by 73.8% in the fourth quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 62 shares during the last quarter. Finally, Luken Investment Analytics LLC lifted its holdings in shares of Palo Alto Networks by 196.2% during the fourth quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.
Palo Alto Networks Stock Performance
Shares of PANW stock opened at $287.78 on Monday. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $302.95. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average price is $228.24 and its 200-day moving average price is $192.69. The stock has a market capitalization of $234.54 billion, a price-to-earnings ratio of 235.89, a price-to-earnings-growth ratio of 10.69 and a beta of 0.94.
Insider Transactions at Palo Alto Networks
In other Palo Alto Networks news, Director James J. Goetz sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $279.90, for a total transaction of $5,598,000.00. Following the sale, the director directly owned 20,000 shares of the company’s stock, valued at $5,598,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $285.08, for a total value of $313,588.00. Following the sale, the chief accounting officer owned 81,636 shares in the company, valued at approximately $23,272,790.88. This trade represents a 1.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 101,044 shares of company stock worth $26,022,722. 1.40% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research firms have commented on PANW. Wolfe Research reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Palo Alto Networks in a research report on Wednesday, June 3rd. Sanford C. Bernstein increased their price target on Palo Alto Networks from $209.00 to $253.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. The Goldman Sachs Group restated a “buy” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research note on Wednesday, June 3rd. Robert W. Baird set a $320.00 price objective on Palo Alto Networks in a report on Wednesday, June 3rd. Finally, Rosenblatt Securities upped their price objective on Palo Alto Networks from $275.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $306.59.
View Our Latest Analysis on PANW
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.
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