Kintegral Advisory LLC Purchases 2,581 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) (2024)

Posted by Defense World Staff on Aug 29th, 2024

Kintegral Advisory LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 111.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,888 shares of the network technology company’s stock after purchasing an additional 2,581 shares during the quarter. Kintegral Advisory LLC’s holdings in Palo Alto Networks were worth $1,657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the first quarter valued at about $25,000. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks during the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the period. Ulland Investment Advisors LLC bought a new stake in shares of Palo Alto Networks in the 1st quarter valued at $30,000. Finally, Central Bank & Trust Co. raised its stake in Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

PANW opened at $350.44 on Thursday. The firm has a market capitalization of $113.47 billion, a P/E ratio of 50.94, a price-to-earnings-growth ratio of 4.40 and a beta of 1.14. Palo Alto Networks, Inc. has a one year low of $224.64 and a one year high of $380.84. The company has a fifty day moving average price of $331.38 and a 200-day moving average price of $310.58.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its quarterly earnings results 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 firm 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 32.74% and a net margin of 31.42%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 EPS. On average, analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Mary Pat Mccarthy sold 10,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the transaction, the director now directly owns 31,517 shares in the company, valued at approximately $10,983,359.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.16, for a total value of $12,209,760.00. Following the completion of the sale, the executive vice president now owns 1,223,567 shares of the company’s stock, valued at approximately $414,984,983.72. The disclosure for this sale can be found here. Insiders sold a total of 376,372 shares of company stock valued at $121,925,593 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the subject of several research analyst reports. Bank of America lifted their price objective on Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. DA Davidson increased their price target on Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. TD Cowen boosted their target price 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. Citigroup raised their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Sanford C. Bernstein upped their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $363.49.

Get Our Latest Stock Analysis on PANW