Archer Investment Corp Purchases 71 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Archer Investment Corp grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 24.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357 shares of the network technology company’s stock after acquiring an additional 71 shares during the period. Archer Investment Corp’s holdings in Palo Alto Networks were worth $122,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PANW. International Assets Investment Management LLC grew its holdings in Palo Alto Networks by 34,318.2% during the third 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. Swedbank AB acquired a new stake in shares of Palo Alto Networks during the 1st quarter worth about $177,933,000. Altshuler Shaham Ltd lifted its position in Palo Alto Networks by 444,100.0% during the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after acquiring an additional 444,100 shares during the last quarter. Congress Asset Management Co. bought a new stake in Palo Alto Networks in the 3rd quarter valued at $94,875,000. Finally, Legal & General Group Plc boosted its position in shares of Palo Alto Networks by 8.5% in the second 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 acquiring an additional 255,060 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Down 1.9 %

PANW opened at $387.00 on Friday. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $408.53. The company has a fifty day moving average of $359.86 and a 200-day moving average of $336.07. The stock has a market cap of $126.01 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 5.84 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate 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 period last year, the business posted $0.80 EPS. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 66,666 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the transaction, the chief executive officer now directly owns 639,994 shares in the company, valued at $219,505,142.12. This trade represents a 9.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,252 shares of company stock valued at $89,383,077. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research report on Monday, November 4th. Wells Fargo & Company lifted their price objective on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Susquehanna raised their price target on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a research report on Thursday, September 5th. Cantor Fitzgerald raised shares of Palo Alto Networks to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Piper Sandler raised their target price on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $381.56.

About Palo Alto Networks

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.