Vise Technologies Inc. purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 9,556 shares of the network technology company’s stock, valued at approximately $1,956,000.
Other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC grew its holdings in Palo Alto Networks by 6,400.0% during the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Briaud Financial Planning Inc bought a new stake in shares of Palo Alto Networks during the 2nd quarter worth $28,000. Dagco Inc. acquired a new position in Palo Alto Networks in the 1st quarter valued at $33,000. WPG Advisers LLC acquired a new position in Palo Alto Networks in the 1st quarter valued at $37,000. Finally, Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 58.9% during the 1st quarter. Strategic Investment Solutions Inc. IL now owns 224 shares of the network technology company’s stock worth $38,000 after acquiring an additional 83 shares during the last quarter. 79.82% of the stock is owned by institutional investors.
Palo Alto Networks Price Performance
PANW opened at $218.27 on Wednesday. The company has a market capitalization of $149.29 billion, a P/E ratio of 135.99, a P/E/G ratio of 5.15 and a beta of 0.95. The firm’s fifty day moving average price is $208.24 and its two-hundred day moving average price is $196.75. Palo Alto Networks, Inc. has a fifty-two week low of $144.15 and a fifty-two week high of $223.61.
Insider Buying and Selling 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, September 3rd. The stock was sold at an average price of $191.11, for a total transaction of $23,081,119.14. Following the completion of the transaction, the executive vice president owned 177,954 shares in the company, valued at $34,008,788.94. This trade represents a 40.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $219.97, for a total value of $153,979.00. Following the completion of the sale, the chief accounting officer directly owned 47,505 shares in the company, valued at approximately $10,449,674.85. This represents a 1.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,215,830 shares of company stock worth $249,160,428 in the last three months. 2.50% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
PANW has been the topic of several research analyst reports. Morgan Stanley raised their price target on Palo Alto Networks from $210.00 to $216.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Guggenheim raised their target price on Palo Alto Networks from $130.00 to $135.00 and gave the company a “sell” rating in a report on Tuesday, August 19th. Stephens reiterated an “equal weight” rating and set a $205.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 19th. Jefferies Financial Group reissued a “buy” rating on shares of Palo Alto Networks in a research report on Tuesday. Finally, KeyCorp cut shares of Palo Alto Networks from an “overweight” rating to a “sector weight” rating in a research note on Thursday, July 31st. Thirty equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.67.
View Our Latest Stock Report on Palo Alto Networks
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.
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