Maia Wealth LLC Has $607,000 Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Maia Wealth LLC trimmed its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,666 shares of the network technology company’s stock after selling 172 shares during the period. Maia Wealth LLC’s holdings in Palo Alto Networks were worth $607,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PANW. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks in the first quarter valued at $25,000. Capital Advisors Ltd. LLC grew its holdings in Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares during the period. Sound Income Strategies LLC grew its holdings in Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares during the period. Strategic Investment Solutions Inc. IL grew its holdings in Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. grew its holdings in 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 worth $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.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Truist Financial increased their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Morgan Stanley increased their price target on Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Redburn Atlantic downgraded 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 report on Thursday, July 18th. Bank of America raised their target price on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.49.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks 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 trade represents 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 have sold 255,252 shares of company stock worth $89,383,077. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Price Performance

Shares of PANW opened at $385.18 on Thursday. Palo Alto Networks, Inc. has a 1 year low of $234.15 and a 1 year high of $386.20. The stock’s fifty day moving average price is $353.98 and its two-hundred day moving average price is $331.32. The firm has a market cap of $125.41 billion, a PE ratio of 53.13, a PEG ratio of 5.23 and a beta of 1.12.

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

Palo Alto Networks Company 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.