Heritage Oak Wealth Advisors LLC Purchases Shares of 619 Palo Alto Networks, Inc. (NASDAQ:PANW)

Heritage Oak Wealth Advisors LLC acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 619 shares of the network technology company’s stock, valued at approximately $212,000.

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

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction that occurred 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 directly owns 618,715 shares in the company, valued at $227,680,932.85. This trade 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 is available at the SEC website. In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade 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 is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the sale, the executive vice president now directly owns 1,187,567 shares in the company, valued at $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock valued at $118,643,279 in the last quarter. 3.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Royal Bank of Canada raised their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Piper Sandler lifted their target price on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. BNP Paribas assumed coverage on Palo Alto Networks in a research report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price target on the stock. Finally, Truist Financial raised their price target on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $376.82.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $364.58 on Friday. The company has a market capitalization of $118.71 billion, a P/E ratio of 50.29, a price-to-earnings-growth ratio of 5.45 and a beta of 1.13. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00. The company’s 50 day moving average price is $350.84 and its two-hundred day moving average price is $325.17.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. Analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

About Palo Alto Networks

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.