Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Activest Wealth Management

Activest Wealth Management lessened its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 53.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 509 shares of the network technology company’s stock after selling 593 shares during the period. Activest Wealth Management’s holdings in Palo Alto Networks were worth $174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PANW. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Palo Alto Networks during the first quarter worth about $536,000. Axxcess Wealth Management LLC increased its holdings in shares of Palo Alto Networks by 0.6% during the 1st quarter. Axxcess Wealth Management LLC now owns 6,788 shares of the network technology company’s stock worth $1,929,000 after buying an additional 40 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Palo Alto Networks by 11.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 7,468 shares of the network technology company’s stock worth $2,122,000 after buying an additional 738 shares during the period. Guardian Capital Advisors LP boosted its holdings in Palo Alto Networks by 11.3% in the first quarter. Guardian Capital Advisors LP now owns 4,200 shares of the network technology company’s stock valued at $1,165,000 after acquiring an additional 425 shares during the last quarter. Finally, Truvestments Capital LLC raised its holdings in shares of Palo Alto Networks by 260.4% in the 1st quarter. Truvestments Capital LLC now owns 2,094 shares of the network technology company’s stock worth $595,000 after purchasing an additional 1,513 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the transaction, the executive vice president now owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This represents a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 11.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,252 shares of company stock worth $89,041,637. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $3.19 during trading on Thursday, hitting $396.08. 2,028,035 shares of the company’s stock traded hands, compared to its average volume of 3,835,690. The company has a market cap of $128.96 billion, a PE ratio of 52.50, a PEG ratio of 5.63 and a beta of 1.12. Palo Alto Networks, Inc. has a twelve month low of $260.09 and a twelve month high of $408.53. The firm’s fifty day moving average price is $362.55 and its 200 day moving average price is $338.41.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Wednesday, November 20th. The network technology company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.08. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. Palo Alto Networks’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Analyst Ratings Changes

PANW has been the subject of a number of research analyst reports. Rosenblatt Securities raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $390.00 to $430.00 in a research report on Thursday. BMO Capital Markets raised their target price on shares of Palo Alto Networks from $390.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday. Sanford C. Bernstein upped their price target on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Truist Financial upped their price objective on shares of Palo Alto Networks from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus lifted their price target on shares of Palo Alto Networks from $385.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $402.56.

Palo Alto Networks Company 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.