Tandem Capital Management Corp ADV Buys 80 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Tandem Capital Management Corp ADV raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.7% in the third quarter, Holdings Channel reports. The fund owned 3,088 shares of the network technology company’s stock after buying an additional 80 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Palo Alto Networks were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PANW. Kathmere Capital Management LLC grew its holdings in Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after acquiring an additional 30 shares during the period. FLC Capital Advisors lifted its position in Palo Alto Networks by 0.7% in the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after acquiring an additional 30 shares in the last quarter. Cromwell Holdings LLC boosted its position in Palo Alto Networks by 3.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after acquiring an additional 30 shares during the last quarter. Cascade Investment Group Inc. grew its position in Palo Alto Networks by 2.9% in the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after purchasing an additional 31 shares in the last quarter. Finally, Herbst Group LLC grew its holdings in shares of Palo Alto Networks by 0.3% in the 3rd quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock valued at $3,313,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PANW shares. DA Davidson boosted their target price on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Piper Sandler lifted their target price on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Susquehanna boosted their price target on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their price target on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $376.82.

Palo Alto Networks Stock Down 1.6 %

Shares of Palo Alto Networks stock opened at $359.51 on Thursday. The business has a 50 day moving average price of $352.23 and a 200-day moving average price of $328.16. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00. The company has a market cap of $117.06 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 5.31 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the firm earned $0.80 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This 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 accessible through this link. In related news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 315,252 shares of company stock worth $107,138,877. 3.30% of the stock is owned by company insiders.

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.