Jacobs & Co. CA Has $4.84 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Jacobs & Co. CA boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,170 shares of the network technology company’s stock after acquiring an additional 460 shares during the period. Jacobs & Co. CA’s holdings in Palo Alto Networks were worth $4,843,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its stake in shares of Palo Alto Networks by 91.0% in the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after purchasing an additional 802 shares in the last quarter. Jennison Associates LLC increased its holdings in Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after buying an additional 198,078 shares during the period. Brookstone Capital Management raised its stake in shares of Palo Alto Networks by 48.4% in the 1st quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after buying an additional 8,611 shares in the last quarter. Wealthspire Advisors LLC lifted its holdings in shares of Palo Alto Networks by 1.7% during the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock worth $1,244,000 after acquiring an additional 75 shares during the period. Finally, Connectus Wealth LLC boosted its position in shares of Palo Alto Networks by 22.8% during the 4th quarter. Connectus Wealth LLC now owns 43,813 shares of the network technology company’s stock valued at $12,920,000 after acquiring an additional 8,132 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 0.9 %

Palo Alto Networks stock opened at $332.13 on Thursday. Palo Alto Networks, Inc. has a 1-year low of $230.09 and a 1-year high of $380.84. The company has a market cap of $108.14 billion, a P/E ratio of 48.27, a price-to-earnings-growth ratio of 4.87 and a beta of 1.13. The company has a fifty day simple moving average of $337.31 and a 200 day simple moving average of $316.36.

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

Analysts Set New Price Targets

PANW has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Susquehanna increased their target price on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. DA Davidson lifted their price target on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Truist Financial raised their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Twelve equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $369.26.

Insiders Place Their Bets

In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the transaction, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 125,866 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $55,791,570. The disclosure for this sale can be found here. Over the last three months, insiders have sold 359,732 shares of company stock valued at $118,815,557. 3.30% of the stock is currently 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.