Palo Alto Networks, Inc. (NASDAQ:PANW) stock acquired from Hudock Inc

Hudock Inc. increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 284.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,914 shares of the network technology company after purchasing a further 1,416 shares during the period. Hudock Inc.’s interests in Palo Alto Networks were valued at $313,000 at the time of the most recent filing with the Securities & Exchange Commission.

Other hedge funds have also changed their holdings in the company. RB Capital Management LLC increased its stake in Palo Alto Networks stock by 19.9% ​​in the first quarter. RB Capital Management LLC now owns 602 shares of the network technology company, valued at $375,000, after purchasing an additional 100 shares during the period. Morning Waterfall Vintiadis & Co. Inc. acquired a new position in Palo Alto Networks valued at approximately $6,910,000 during the first quarter. United Bank increased its position in Palo Alto Networks by 11.7% in the first quarter. United Bank now owns 2,822 shares of the network technology company, valued at $1,757,000, after buying another 296 shares last quarter. Yousif Capital Management LLC increased its position in Palo Alto Networks by 13.6% in the first quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company, valued at $963,000, after purchasing an additional 185 shares last quarter. Finally, during the first quarter, Prudential PLC acquired a new position in Palo Alto Networks valued at approximately $1,022,000. 81.82% of the shares are currently owned by institutional investors and hedge funds.

Insiders place their bets

In other news from Palo Alto Networks, EVP Lee Klarich sold 15,639 shares of the company’s stock in a transaction on Tuesday, January 10th. The shares sold at an average price of $135.88 for a total transaction of $2,125,027.32. Following the transaction, the Executive Vice President now directly owns 619,266 shares of the Company, valued at $84,145,864.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this link. In other news from Palo Alto Networks, EVP Lee Klarich sold 15,639 shares of the company’s stock in a transaction on Tuesday, January 10th. The shares sold at an average price of $135.88 for a total value of $2,125,027.32. Following the sale, the Executive Vice President now owns 619,266 shares of the Company, valued at $84,145,864.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In addition, CFO Dipak Golechha sold 2,000 shares of the company in a transaction on Monday, November 28th. The shares were sold at an average price of $172.41 for a total transaction of $344,820.00. Upon completion of the sale, the Chief Financial Officer now directly owns 80,716 shares of the Company, valued at approximately $13,916,245.56. The disclosure for this sale can be found here. Over the past three months, insiders have sold 299,930 shares of the company’s shares, valued at $48,677,038. 3.90% of the shares are owned by company insiders.

Changes in analyst ratings

PANW has been the subject of a number of recent analyst reports. Cowen reiterated a “buy” rating and price target of $207.00 on shares of Palo Alto Networks in a research report on Friday, November 18. Piper Sandler lowered his target price on Palo Alto Networks shares to $220.00 from $230.00 and ranked the stock as an “overweight” in a research report on Thursday, January 5. Loop Capital upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and increased its price target on the stock to $200.00 from $183.00 in a research note on Thursday, April 10 November. Oppenheimer raised its price target on Palo Alto Networks shares from $200.00 to $220.00 in a research note on Friday, November 18. Finally, Redburn Partners began reporting on Palo Alto Networks stock in a research note on Thursday, December 1st. They put a buy rating on the stock and a price target of $270.00. Five investment analysts have rated the stock with a hold and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.31.

Palo Alto Networks shares up 1.7%

NASDAQ PANW opened at $138.86 on Friday. The stock has a market cap of $41.71 billion, a P/E of -281.47, a P/E of 5.61, and a beta of 1.15. Palo Alto Networks, Inc. has a 52-week low of $132.22 and a 52-week high of $213.63. The company has a 50-day moving average price of $154.30 and a 200-day moving average price of $166.86.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last announced its earnings results on Thursday, November 17th. The network technology company reported earnings per share of $0.12 for the quarter, beating the consensus estimate of $0.10 by $0.02. Palo Alto Networks had a negative net margin of 2.46% and a negative return on equity of 5.02%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. On average, equities analysts expect Palo Alto Networks, Inc. to report earnings per share of 0.79 for the current fiscal year.

Company Profile of Palo Alto Networks

(get rating)

Palo Alto Networks, Inc provides cyber security solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for controlling firewall appliances and software deployed on a customer’s network and their instances in public or private cloud environments, as a virtual or physical appliance; and Virtual System Upgrades, available as additions to the virtual system capacity shipped with physical appliances.

Selected items

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating).

Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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