Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Global Assets Advisory LLC

Global Assets Advisory LLC lessened its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 46.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,081 shares of the network technology company’s stock after selling 923 shares during the period. Global Assets Advisory LLC’s holdings in Palo Alto Networks were worth $356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kathmere Capital Management LLC boosted its position in Palo Alto Networks by 3.4% during the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares in the last quarter. FLC Capital Advisors boosted its stake in shares of Palo Alto Networks by 0.7% during the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after acquiring an additional 30 shares during the last quarter. Cascade Investment Group Inc. boosted its stake in shares of Palo Alto Networks by 2.9% during the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after acquiring an additional 31 shares during the last quarter. Herbst Group LLC boosted its stake in shares of Palo Alto Networks by 0.3% during the third quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock valued at $3,313,000 after acquiring an additional 31 shares during the last quarter. Finally, First PREMIER Bank boosted 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 acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction 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 sale, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at $8,014,746.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the sale, the chief executive officer now owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 351,452 shares of company stock valued at $118,643,279 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $358.19 on Thursday. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00. The firm has a market capitalization of $115.98 billion, a P/E ratio of 52.06, a P/E/G ratio of 5.43 and a beta of 1.13. The business has a 50 day simple moving average of $350.84 and a 200 day simple moving average of $325.17.

Palo Alto Networks (NASDAQ:PANW) last released 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Analyst Ratings Changes

PANW has been the topic of a number of analyst reports. Northland Securities increased their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research note on Tuesday, August 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research note on Monday, August 19th. Truist Financial raised their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. BNP Paribas initiated coverage on Palo Alto Networks in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 price target on the stock. Finally, Piper Sandler raised their price target on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Eleven investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $376.82.

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.