Whalen Wealth Management Inc. Has $717,000 Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Whalen Wealth Management Inc. lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 13.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,099 shares of the network technology company’s stock after selling 338 shares during the period. Whalen Wealth Management Inc.’s holdings in Palo Alto Networks were worth $717,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks in the first quarter worth about $25,000. Capital Advisors Ltd. LLC grew its position in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares during the period. Sound Income Strategies LLC lifted its holdings 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 valued at $29,000 after buying an additional 67 shares during the period. Strategic Investment Solutions Inc. IL boosted its stake in 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 acquiring an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. grew its holdings in 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 worth $31,000 after acquiring an additional 100 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.0 %

Shares of NASDAQ PANW opened at $386.83 on Tuesday. The stock has a fifty day simple moving average of $360.72 and a two-hundred day simple moving average of $337.38. Palo Alto Networks, Inc. has a 1-year low of $249.56 and a 1-year high of $408.53. The firm has a market cap of $125.95 billion, a price-to-earnings ratio of 53.36, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate 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%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 EPS. Analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. OTR Global reissued a “negative” rating on shares of Palo Alto Networks in a research note on Thursday, November 7th. Needham & Company LLC increased their price target on shares of Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Royal Bank of Canada boosted their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Scotiabank increased their target price on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Palo Alto Networks from $387.00 to $449.00 and gave the company an “overweight” rating in a report on Monday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.39.

Insider Transactions at Palo Alto Networks

In other news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. The trade was a 11.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 10,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 31,517 shares in the company, valued at $10,983,359.33. This trade represents a 24.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,252 shares of company stock worth $89,041,637 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

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.