Diversify Wealth Management LLC Decreases Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Diversify Wealth Management LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 14,722 shares of the network technology company’s stock after selling 610 shares during the period. Diversify Wealth Management LLC’s holdings in Palo Alto Networks were worth $5,273,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PANW. Capital Advisors Ltd. LLC raised its position in Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares during the period. Sound Income Strategies LLC lifted its stake in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 55 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks during the first quarter worth about $25,000. Finally, First PREMIER Bank lifted its stake in Palo Alto Networks by 48.4% in the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after buying an additional 31 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PANW shares. JPMorgan Chase & Co. upped their price objective on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Citigroup increased their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Rosenblatt Securities raised their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Truist Financial increased their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Robert W. Baird raised their target price on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Eleven equities research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $376.82.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded down $1.22 during trading on Wednesday, reaching $364.17. 367,498 shares of the stock traded hands, compared to its average volume of 3,946,392. Palo Alto Networks, Inc. has a 52-week low of $233.81 and a 52-week high of $384.00. The stock has a market cap of $118.57 billion, a P/E ratio of 50.46, a price-to-earnings-growth ratio of 5.31 and a beta of 1.13. The stock has a 50-day moving average of $352.24 and a two-hundred day moving average of $327.94.

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

Insider Buying and Selling

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

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.