Radnor Capital Management LLC Acquires Shares of 1,455 Palo Alto Networks, Inc. (NASDAQ:PANW)

Radnor Capital Management LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the third quarter, HoldingsChannel reports. The institutional investor bought 1,455 shares of the network technology company’s stock, valued at approximately $497,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after purchasing an additional 1,002,239 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after purchasing an additional 3,249,594 shares during the period. Legal & General Group Plc increased its holdings in Palo Alto Networks by 8.5% in the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after purchasing an additional 255,060 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Palo Alto Networks by 5.4% during the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock worth $757,321,000 after purchasing an additional 114,742 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in Palo Alto Networks by 8.0% during the 2nd quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock worth $339,183,000 after acquiring an additional 73,922 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total value of $22,865,104.68. Following the completion of the sale, the chief executive officer now owns 639,994 shares of the company’s stock, valued at $219,505,142.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the sale, the director now owns 31,517 shares of the company’s stock, valued at $10,983,359.33. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nikesh Arora sold 66,666 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the transaction, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,252 shares of company stock valued at $89,383,077 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PANW shares. BTIG Research raised their price target on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Stifel Nicolaus raised their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Truist Financial raised their price target on shares of 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, Royal Bank of Canada boosted their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $385.18 on Thursday. The firm’s 50-day moving average is $353.98 and its 200-day moving average is $331.32. The stock has a market cap of $125.41 billion, a price-to-earnings ratio of 53.13, a PEG ratio of 5.23 and a beta of 1.12. Palo Alto Networks, Inc. has a 52-week low of $234.15 and a 52-week high of $386.20.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. Sell-side analysts predict that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

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.