Sheaff Brock Investment Advisors LLC Has $1.12 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Sheaff Brock Investment Advisors LLC lessened its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 14.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,275 shares of the network technology company’s stock after selling 543 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Palo Alto Networks were worth $1,119,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks in the 1st quarter valued at approximately $25,000. Capital Advisors Ltd. LLC raised its holdings in Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 41 shares in the last quarter. Sound Income Strategies LLC raised its holdings in Palo Alto Networks by 352.6% in the 3rd 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 in the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in 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 acquiring an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. raised its holdings in shares of Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. This trade represents a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the sale, the director now directly owns 41,517 shares in the company, valued at $14,175,564.48. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,252 shares of company stock valued at $89,383,077. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

PANW has been the subject of a number of recent research reports. Oppenheimer increased their target price on Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Piper Sandler increased their target price on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Cantor Fitzgerald raised Palo Alto Networks to a “strong-buy” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $381.56.

Palo Alto Networks Stock Down 1.9 %

NASDAQ:PANW opened at $387.00 on Friday. Palo Alto Networks, Inc. has a 12-month low of $234.15 and a 12-month high of $408.53. The firm has a market capitalization of $126.01 billion, a P/E ratio of 53.38, a P/E/G ratio of 5.84 and a beta of 1.12. The stock’s fifty day simple moving average is $359.86 and its 200-day simple moving average is $336.07.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion for 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 revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 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.