Stenger Family Office LLC Purchases 2,782 Shares of Palo Alto Networks, Inc. $PANW

Stenger Family Office LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 13.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,273 shares of the network technology company’s stock after purchasing an additional 2,782 shares during the quarter. Palo Alto Networks accounts for approximately 0.9% of Stenger Family Office LLC’s investment portfolio, making the stock its 22nd biggest holding. Stenger Family Office LLC’s holdings in Palo Alto Networks were worth $5,127,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Palo Alto Networks by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 64,016,374 shares of the network technology company’s stock valued at $13,100,311,000 after acquiring an additional 1,240,830 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Palo Alto Networks by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 15,174,029 shares of the network technology company’s stock worth $3,093,262,000 after purchasing an additional 169,055 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Palo Alto Networks by 7.7% in the second quarter. First Trust Advisors LP now owns 5,295,588 shares of the network technology company’s stock worth $1,083,689,000 after purchasing an additional 377,496 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Palo Alto Networks by 1.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,476,638 shares of the network technology company’s stock valued at $916,099,000 after purchasing an additional 54,601 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Palo Alto Networks during the second quarter valued at $675,865,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. BMO Capital Markets boosted their target price on Palo Alto Networks from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Royal Bank Of Canada lifted their price target on shares of Palo Alto Networks from $232.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. Stephens boosted their price objective on shares of Palo Alto Networks from $205.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday, November 20th. BTIG Research restated a “buy” rating on shares of Palo Alto Networks in a report on Wednesday, December 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $230.00 target price on shares of Palo Alto Networks in a research note on Thursday, November 20th. Thirty-one equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $229.09.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 800 shares of Palo Alto Networks stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total transaction of $147,848.00. Following the sale, the chief accounting officer owned 46,005 shares in the company, valued at $8,502,184.05. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James J. Goetz sold 12,500 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the completion of the transaction, the director directly owned 75,184 shares in the company, valued at $14,685,690.72. This trade represents a 14.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 382,016 shares of company stock worth $76,386,460. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $187.66 on Friday. The stock has a market cap of $130.80 billion, a PE ratio of 118.77, a price-to-earnings-growth ratio of 4.47 and a beta of 0.76. Palo Alto Networks, Inc. has a 1 year low of $144.15 and a 1 year high of $223.61. The firm has a fifty day moving average price of $191.35 and a 200-day moving average price of $195.67.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $2.46 billion. During the same quarter in the prior year, the firm posted $1.56 EPS. Palo Alto Networks’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Palo Alto Networks Company Profile

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.