Palo Alto Networks, Inc. (NASDAQ:PANW) Position Raised by Mizuho Securities USA LLC

Mizuho Securities USA LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 54.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,564 shares of the network technology company’s stock after purchasing an additional 13,648 shares during the quarter. Mizuho Securities USA LLC’s holdings in Palo Alto Networks were worth $13,181,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PANW. Kathmere Capital Management LLC increased its holdings in shares of 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 valued at $312,000 after acquiring an additional 30 shares during the last quarter. FLC Capital Advisors raised its position in shares of Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after purchasing an additional 30 shares during the period. Cromwell Holdings LLC raised its position in shares of Palo Alto Networks by 3.0% in the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after purchasing an additional 30 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of Palo Alto Networks by 9.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after buying an additional 30 shares during the period. Finally, Geneva Partners LLC grew its stake in Palo Alto Networks by 0.3% in the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after buying an additional 30 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Truist Financial lifted their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft upped their price target on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price objective on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Evercore ISI increased their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, Bank of America boosted their price objective on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eleven have issued 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $384.76.

Insider Activity

In related news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. The trade was a 27.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the sale, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock valued at $89,383,077 in the last quarter. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $387.00 on Friday. Palo Alto Networks, Inc. has a 52 week low of $234.15 and a 52 week high of $408.53. The stock has a market capitalization of $126.01 billion, a price-to-earnings ratio of 53.38, a PEG ratio of 5.61 and a beta of 1.12. The firm has a fifty day moving average of $359.86 and a two-hundred day moving average of $336.39.

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

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.