Diversify Wealth Management LLC Has $5.27 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Markets Daily

Diversify Wealth Management LLC cut its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,722 shares of the network technology company’s stock after selling 610 shares during the quarter. Diversify Wealth Management LLC’s holdings in Palo Alto Networks were worth $5,273,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the first quarter worth $25,000. Capital Advisors Ltd. LLC increased its holdings in shares of Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after purchasing an additional 41 shares during the period. Sound Income Strategies LLC grew its position 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 buying 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. lifted its position in shares of Palo Alto Networks by 1,111.1% during the 1st 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. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business’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 value of $11,439,720.00. Following the transaction, the executive vice president now owns 1,187,567 shares of the company’s stock, 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 a total of 351,452 shares of company stock valued at $118,643,279 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PANW shares. UBS Group boosted their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Citigroup upped their target price on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Sanford C. Bernstein lifted their price target on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. TD Cowen upped their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group boosted their target price on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $376.82.

Get Our Latest Stock Report on Palo Alto Networks

Palo Alto Networks Stock Performance

PANW traded down $1.22 during trading on Wednesday, reaching $364.17. The stock had a trading volume of 367,498 shares, compared to its average volume of 3,946,392. The business has a 50-day moving average of $352.24 and a 200-day moving average of $327.94. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $384.00. The stock has a market cap of $118.57 billion, a PE ratio of 50.46, a PEG ratio of 5.31 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued 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 firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 earnings per share. Equities research analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

About Palo Alto Networks

(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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