Strategic Blueprint LLC Acquires 718 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Strategic Blueprint LLC boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,229 shares of the network technology company’s stock after purchasing an additional 718 shares during the quarter. Strategic Blueprint LLC’s holdings in Palo Alto Networks were worth $6,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kathmere Capital Management LLC lifted its position in Palo Alto Networks by 3.4% during the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after acquiring an additional 30 shares during the last quarter. FLC Capital Advisors boosted its stake in Palo Alto Networks by 0.7% in the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after purchasing an additional 30 shares during the period. Cromwell Holdings LLC grew its holdings in Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after buying an additional 30 shares in the last quarter. Cascade Investment Group Inc. increased its position in Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after buying an additional 31 shares during the period. Finally, Herbst Group LLC increased its position in Palo Alto Networks by 0.3% during the 3rd quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock worth $3,313,000 after buying an additional 31 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated 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 sale, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 approximately $377,373,165.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold 351,452 shares of company stock valued at $118,643,279 in the last 90 days. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Up 0.1 %

PANW stock traded up $0.51 during trading on Tuesday, reaching $362.86. The stock had a trading volume of 223,713 shares, compared to its average volume of 3,954,036. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $384.00. The company’s 50 day moving average is $352.29 and its two-hundred day moving average is $327.33. The company has a market capitalization of $118.15 billion, a price-to-earnings ratio of 49.53, a P/E/G ratio of 5.31 and a beta of 1.13.

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, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. As a group, research analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. raised their price objective on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Rosenblatt Securities boosted their price target on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, Piper Sandler increased their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $376.82.

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.