Legacy Financial Strategies LLC Purchases 396 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Legacy Financial Strategies LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 59.2% during the third quarter, HoldingsChannel reports. The fund owned 1,065 shares of the network technology company’s stock after buying an additional 396 shares during the quarter. Legacy Financial Strategies LLC’s holdings in Palo Alto Networks were worth $364,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PANW. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks during the 1st quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. grew its holdings in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares in the last quarter. Sound Income Strategies LLC grew its holdings in Palo Alto Networks by 352.6% during the 3rd 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 in the last quarter. Central Bank & Trust Co. grew its holdings in Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares in 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 valued at $31,000 after buying an additional 100 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Down 0.4 %

PANW traded down $1.32 during trading on Friday, reaching $374.83. The stock had a trading volume of 1,449,963 shares, compared to its average volume of 2,382,185. The stock’s 50 day moving average is $348.67 and its two-hundred day moving average is $322.67. The company has a market capitalization of $122.04 billion, a price-to-earnings ratio of 51.70, a P/E/G ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The business 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 earnings per share. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Thursday, August 1st. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 81,586 shares of the 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 sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PANW has been the subject of several recent analyst reports. Citigroup boosted their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Piper Sandler boosted their price objective on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Evercore ISI boosted their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. KeyCorp boosted their price objective on Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Susquehanna boosted their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.79.

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.