Moss Adams Wealth Advisors LLC Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Markets Daily

Moss Adams Wealth Advisors LLC acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 614 shares of the network technology company’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PANW. Sound Income Strategies LLC grew its position 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. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks in the first quarter valued at approximately $25,000. First PREMIER Bank grew its holdings in shares of 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 purchasing an additional 31 shares in the last quarter. Financial Synergies Wealth Advisors Inc. increased its stake 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 worth $28,000 after buying an additional 96 shares during the period. Finally, Central Bank & Trust Co. boosted its position in Palo Alto Networks by 89.3% in 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 during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 0.4 %

Shares of NASDAQ:PANW opened at $374.83 on Friday. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $380.84. The company has a 50-day moving average price of $348.67 and a 200 day moving average price of $323.01. The company has a market cap of $121.37 billion, a P/E ratio of 54.48, a PEG ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion during 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%. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. Analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at $8,014,746.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock worth $118,643,279 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PANW shares. Royal Bank of Canada upped their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Evercore ISI upped their price target on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Morgan Stanley lifted their price objective on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. upped their target price on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $350.00 to $325.00 in a research note on Thursday, July 18th. Eleven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $375.79.

View Our Latest Stock Analysis on Palo Alto Networks

Palo Alto Networks Profile

(Free Report)

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.

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