Armstrong Advisory Group Inc. Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Armstrong Advisory Group Inc. boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 69.5% during the third quarter, Holdings Channel.com reports. The fund owned 178 shares of the network technology company’s stock after acquiring an additional 73 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Palo Alto Networks were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks in the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. lifted its stake in Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares during the period. Sound Income Strategies LLC lifted its stake in 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 worth $29,000 after acquiring an additional 67 shares during the period. Central Bank & Trust Co. raised its holdings in Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its holdings 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 acquiring an additional 100 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $373.91 on Tuesday. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $380.84. The business has a 50-day moving average of $343.80 and a 200-day moving average of $320.63. The company has a market capitalization of $121.07 billion, a price-to-earnings ratio of 54.35, a PEG ratio of 5.26 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly 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. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. Research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the transaction, the director now directly owns 31,517 shares of the company’s stock, valued at $10,983,359.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the sale, the director now directly owns 31,517 shares in the company, valued at $10,983,359.33. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This trade 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 269,866 shares of company stock valued at $88,620,447 in the last quarter. Insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a research report on Friday, August 16th. 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. Sanford C. Bernstein raised their target price on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Citigroup raised their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Oppenheimer lifted their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $372.28.

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.