Mesirow Financial Investment Management Inc. Has $279,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mesirow Financial Investment Management Inc. grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 815 shares of the network technology company’s stock after buying an additional 111 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Palo Alto Networks were worth $279,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks during the first quarter worth about $25,000. Capital Advisors Ltd. LLC lifted its position in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares during the period. Sound Income Strategies LLC boosted its stake in Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. grew its holdings in shares of Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated 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 owns 159,009 shares in the company, valued at $54,854,924.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the 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 sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,252 shares of company stock worth $89,383,077. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

PANW stock opened at $398.02 on Wednesday. The business has a 50-day moving average of $355.84 and a 200-day moving average of $333.78. Palo Alto Networks, Inc. has a fifty-two week low of $234.15 and a fifty-two week high of $400.69. The stock has a market capitalization of $129.60 billion, a P/E ratio of 54.90, a P/E/G ratio of 5.68 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 the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $0.80 EPS. Equities analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on PANW shares. The Goldman Sachs Group boosted their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Piper Sandler increased their price target on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Redburn Atlantic lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $350.00 to $325.00 in a research note on Thursday, July 18th. JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Monday, November 4th. Finally, TD Cowen upped their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.87.

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.