Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Lifted by Clarity Wealth Advisors LLC

Clarity Wealth Advisors LLC boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,171 shares of the network technology company’s stock after buying an additional 94 shares during the period. Clarity Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC lifted its position 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 purchasing an additional 67 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the first quarter valued at approximately $25,000. First PREMIER Bank raised its holdings 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. boosted its position in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares during the period. Finally, Central Bank & Trust Co. grew its holdings 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 worth $30,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value 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 $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock valued at $118,643,279 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PANW shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price target on shares of Palo Alto Networks in a research report on Monday, August 19th. Redburn Atlantic downgraded shares of 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 report on Thursday, July 18th. JMP Securities reiterated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Sanford C. Bernstein boosted their price target on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley upped their price target on shares of Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $375.79.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded down $1.32 during mid-day trading on Friday, reaching $374.83. The company had a trading volume of 1,449,963 shares, compared to its average volume of 2,382,185. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $380.84. The stock’s 50 day moving average is $348.67 and its 200-day moving average is $322.67. The stock has a market capitalization of $122.04 billion, a PE ratio of 51.70, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last issued its 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 for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS 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.