Allworth Financial LP Acquires 130 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Allworth Financial LP lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,867 shares of the network technology company’s stock after purchasing an additional 130 shares during the quarter. Allworth Financial LP’s holdings in Palo Alto Networks were worth $1,322,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PANW. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks during the first quarter worth $25,000. Sound Income Strategies LLC raised its position in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its position in 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 worth $29,000 after acquiring an additional 55 shares in the last quarter. Cape Investment Advisory Inc. raised its position in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Finally, New England Capital Financial Advisors LLC raised its position in Palo Alto Networks by 833.3% during the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a research report on Friday, August 16th. Scotiabank increased their price objective on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Northland Securities increased their price objective on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research report on Tuesday, August 20th. Stifel Nicolaus increased their price objective on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group upped 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 note on Tuesday, October 8th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $376.82.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the transaction, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the transaction, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock worth $118,643,279 in the last quarter. 3.30% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $362.35 on Tuesday. The company has a 50 day simple moving average of $352.29 and a 200 day simple moving average of $327.33. The firm has a market cap of $117.98 billion, a PE ratio of 49.98, a price-to-earnings-growth ratio of 5.31 and a beta of 1.13. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned $0.80 EPS. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Palo Alto Networks 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.