Commonwealth Equity Services LLC Sells 505 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Commonwealth Equity Services LLC lessened its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 284,454 shares of the network technology company’s stock after selling 505 shares during the quarter. Commonwealth Equity Services LLC owned about 0.09% of Palo Alto Networks worth $97,227,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. increased its holdings 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 last quarter. Sound Income Strategies LLC lifted 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 worth $29,000 after purchasing an additional 67 shares in the last quarter. Central Bank & Trust Co. boosted its holdings in shares of 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 purchasing an additional 50 shares during the last quarter. Finally, Cape Investment Advisory Inc. grew its position in shares of 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 valued at $31,000 after purchasing an additional 100 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Down 0.4 %

Palo Alto Networks stock opened at $374.83 on Friday. The firm has a market cap of $121.37 billion, a P/E ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. The business has a fifty day moving average of $348.67 and a two-hundred day moving average of $323.01. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the sale, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. 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 at this link. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the sale, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated 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 directly owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,452 shares of company stock worth $118,643,279 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citigroup increased their price target on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Truist Financial increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Needham & Company LLC boosted their price target on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Evercore ISI increased their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, Stifel Nicolaus lifted their price objective on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $375.79.

Palo Alto Networks Company 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.