Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,100 shares of the network technology company’s stock after selling 100 shares during the period. Palo Alto Networks comprises 0.6% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 28th biggest position. Blodgett Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $718,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter valued at $25,000. Sound Income Strategies LLC raised its position 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 worth $29,000 after acquiring an additional 67 shares during the period. Cape Investment Advisory Inc. grew its position in shares of Palo Alto Networks by 1,111.1% during the 1st 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 during the period. New England Capital Financial Advisors LLC increased its stake in shares of Palo Alto Networks by 833.3% in the 1st quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Finally, First PREMIER Bank raised its holdings in Palo Alto Networks by 48.4% in the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.6 %

Shares of PANW traded down $2.19 during mid-day trading on Tuesday, hitting $376.22. The company’s stock had a trading volume of 938,794 shares, compared to its average volume of 4,011,903. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. The firm has a market capitalization of $121.82 billion, a P/E ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. The firm has a 50-day simple moving average of $349.61 and a 200 day simple moving average of $324.19.

Palo Alto Networks (NASDAQ:PANW) last released 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. The company 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 quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 earnings per share. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 159,009 shares of the company’s stock, valued at $47,055,533.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the 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 sale, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 351,452 shares of company stock valued at $118,643,279. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Stifel Nicolaus upped 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 report on Tuesday, August 20th. Northland Securities lifted their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price target on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, Scotiabank lifted their price objective on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Eleven equities research 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.