Western Financial Corp CA Sells 155 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Markets Daily

Western Financial Corp CA lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,549 shares of the network technology company’s stock after selling 155 shares during the quarter. Western Financial Corp CA’s holdings in Palo Alto Networks were worth $871,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PANW. Sunbelt Securities Inc. boosted its stake in Palo Alto Networks by 91.0% in the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after acquiring an additional 802 shares in the last quarter. Alpha Cubed Investments LLC grew its stake in Palo Alto Networks by 16.4% during the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after purchasing an additional 32,626 shares during the last quarter. Jennison Associates LLC boosted its holdings in Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after purchasing an additional 198,078 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of Palo Alto Networks by 48.4% in the first quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock worth $7,502,000 after buying an additional 8,611 shares during the last quarter. Finally, Wealthspire Advisors LLC boosted its position in Palo Alto Networks by 1.7% in the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock worth $1,244,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 0.4 %

Shares of NASDAQ PANW traded up $1.44 during trading on Monday, reaching $376.27. The company had a trading volume of 1,332,820 shares, compared to its average volume of 4,022,863. The stock has a market capitalization of $121.84 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $384.00. The stock has a 50-day moving average price of $348.67 and a two-hundred day moving average price of $323.39.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its quarterly earnings results 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 company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on PANW. BTIG Research raised their price target on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Wedbush reissued an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a report on Friday, August 16th. Morgan Stanley increased their target price on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Scotiabank lifted their price objective on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada boosted their price target 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. Eleven research 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’s stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $375.79.

Check Out Our Latest Stock Report on PANW

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s 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 transaction, the executive vice president now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’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 transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks 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 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 three months. Corporate insiders own 3.30% of the company’s stock.

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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