Brown Lisle Cummings Inc. Has $2.01 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Brown Lisle Cummings Inc. decreased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,889 shares of the network technology company’s stock after selling 250 shares during the period. Brown Lisle Cummings Inc.’s holdings in Palo Alto Networks were worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PANW. Sound Income Strategies LLC grew its position in Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks in the first quarter valued at about $25,000. First PREMIER Bank grew its position in Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after buying an additional 31 shares in the last quarter. Financial Synergies Wealth Advisors Inc. increased its stake in Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares during the period. Finally, Cape Investment Advisory Inc. raised its holdings in Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

PANW has been the topic of several recent research reports. Sanford C. Bernstein lifted their price objective on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Wedbush reissued an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. Truist Financial raised their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Stifel Nicolaus upped their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Needham & Company LLC raised their price target on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $375.79.

Palo Alto Networks Trading Down 0.4 %

PANW stock opened at $374.83 on Monday. The stock has a 50-day moving average price of $348.67 and a two-hundred day moving average price of $323.39. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $380.84. The stock has a market cap of $121.37 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Company 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.