Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Position Lifted by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 50.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,250 shares of the network technology company’s stock after buying an additional 417 shares during the period. Sax Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $424,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PANW. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the 1st quarter worth approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks in the 4th quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. increased its position in 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 valued at $28,000 after acquiring an additional 96 shares during the period. Ulland Investment Advisors LLC acquired a new stake in Palo Alto Networks in the 1st quarter valued at approximately $30,000. Finally, Central Bank & Trust Co. increased its position in Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $47,055,533.37. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $293.31, for a total value of $10,559,160.00. Following the completion of the sale, the executive vice president now owns 1,259,567 shares in the company, valued at $369,443,596.77. The disclosure for this sale can be found here. Insiders sold a total of 367,315 shares of company stock valued at $118,696,590 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PANW. Barclays raised their target price on Palo Alto Networks from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. raised their target price on Palo Alto Networks from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Daiwa Capital Markets started coverage on Palo Alto Networks in a research report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price target on the stock. Sanford C. Bernstein boosted their price objective on Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Finally, Citigroup boosted their price objective on Palo Alto Networks from $335.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $325.71.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW traded up $14.11 during trading hours on Friday, hitting $331.48. 2,820,115 shares of the company’s stock were exchanged, compared to its average volume of 4,403,801. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84. The stock has a market capitalization of $107.33 billion, a price-to-earnings ratio of 48.18, a PEG ratio of 4.16 and a beta of 1.14. The company’s 50-day moving average price is $322.23 and its 200-day moving average price is $311.07.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current 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.