Clarus Wealth Advisors Sells 149 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Clarus Wealth Advisors cut its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,732 shares of the network technology company’s stock after selling 149 shares during the quarter. Clarus Wealth Advisors’ holdings in Palo Alto Networks were worth $923,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Pathway Financial Advisers LLC purchased a new stake in Palo Alto Networks during the first quarter valued at approximately $25,000. First PREMIER Bank grew its stake in shares of Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after buying an additional 31 shares during the last quarter. Financial Synergies Wealth Advisors Inc. increased its stake in Palo Alto Networks by 3,200.0% in the first 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. Central Bank & Trust Co. lifted its holdings in Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Finally, Cape Investment Advisory Inc. boosted its position in 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 valued at $31,000 after buying an additional 100 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $362.87 on Thursday. The firm’s fifty day moving average is $339.77 and its two-hundred day moving average is $318.54. The firm has a market cap of $117.50 billion, a price-to-earnings ratio of 52.74, a PEG ratio of 4.82 and a beta of 1.13. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion for 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 company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PANW has been the topic of a number of research reports. Scotiabank raised their target price on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Cantor Fitzgerald restated an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a report on Monday, August 19th. Stifel Nicolaus upped their target price on Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price target on Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, Robert W. Baird increased their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Eleven investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $371.50.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 66,666 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the transaction, the chief executive officer now directly 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 Securities & Exchange Commission, which is available through the SEC website. In other Palo Alto Networks news, CEO Nikesh Arora sold 66,666 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the transaction, the chief executive officer now directly owns 639,994 shares in the company, valued at approximately $219,505,142.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,866 shares of company stock worth $88,620,447. Corporate insiders own 3.30% of the company’s stock.

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.