Pinnacle Bancorp Inc. Buys 320 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Pinnacle Bancorp Inc. increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 61.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 845 shares of the network technology company’s stock after acquiring an additional 320 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Palo Alto Networks were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Capital Insight Partners LLC increased its position in shares of Palo Alto Networks by 3.5% in the third quarter. Capital Insight Partners LLC now owns 6,040 shares of the network technology company’s stock valued at $2,064,000 after acquiring an additional 203 shares during the period. Quotient Wealth Partners LLC grew its stake in shares of Palo Alto Networks by 3.0% in the third quarter. Quotient Wealth Partners LLC now owns 4,686 shares of the network technology company’s stock worth $1,602,000 after purchasing an additional 138 shares during the last quarter. Modus Advisors LLC grew its stake in shares of Palo Alto Networks by 0.7% in the third quarter. Modus Advisors LLC now owns 18,612 shares of the network technology company’s stock worth $6,362,000 after purchasing an additional 130 shares during the last quarter. UMB Bank n.a. raised its position in Palo Alto Networks by 0.3% during the 3rd quarter. UMB Bank n.a. now owns 49,428 shares of the network technology company’s stock valued at $16,894,000 after purchasing an additional 141 shares during the last quarter. Finally, Perpetual Ltd raised its position in Palo Alto Networks by 4.8% during the 3rd quarter. Perpetual Ltd now owns 7,305 shares of the network technology company’s stock valued at $2,497,000 after purchasing an additional 333 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler upped their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Redburn Atlantic lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $350.00 to $325.00 in a report on Thursday, July 18th. Citigroup upped their target price on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. TD Cowen raised their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities upped their price target on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Eleven analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $372.28.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $373.20 on Friday. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $380.84. The firm has a fifty day moving average price of $340.85 and a 200-day moving average price of $318.89. The stock has a market cap of $120.84 billion, a PE ratio of 54.24, a price-to-earnings-growth ratio of 5.26 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. On average, research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at $8,014,746.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the transaction, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the sale, the chief executive officer now owns 639,994 shares in the company, valued at approximately $219,505,142.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,866 shares of company stock worth $88,620,447 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Profile

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.