Goldstein Advisors LLC Purchases 72 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Goldstein Advisors LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,354 shares of the network technology company’s stock after acquiring an additional 72 shares during the quarter. Goldstein Advisors LLC’s holdings in Palo Alto Networks were worth $463,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PANW. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks in the first quarter valued at about $25,000. Sound Income Strategies LLC lifted its stake in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 67 shares during the period. Strategic Investment Solutions Inc. IL lifted its stake in shares of Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 55 shares during the period. Cape Investment Advisory Inc. lifted its stake in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after buying an additional 100 shares during the period. Finally, New England Capital Financial Advisors LLC lifted its stake in shares of Palo Alto Networks by 833.3% in the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock valued at $32,000 after buying an additional 100 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of analyst reports. Citigroup raised their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Robert W. Baird raised their price target on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Wedbush restated an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research note on Friday, August 16th. Truist Financial raised their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, BNP Paribas initiated coverage on shares of Palo Alto Networks in a research note on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $376.82.

Insider Transactions at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction 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 transaction, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the sale, the executive vice president now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. 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 valued at $118,643,279 over the last three months. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Up 0.5 %

Shares of NASDAQ PANW opened at $366.44 on Friday. The company’s fifty day moving average is $351.91 and its 200-day moving average is $326.46. The stock has a market cap of $119.31 billion, a price-to-earnings ratio of 50.54, a P/E/G ratio of 5.45 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS 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.