Proactive Wealth Strategies LLC Invests $3.57 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

Proactive Wealth Strategies LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 10,447 shares of the network technology company’s stock, valued at approximately $3,571,000. Palo Alto Networks accounts for about 2.0% of Proactive Wealth Strategies LLC’s investment portfolio, making the stock its 11th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Palo Alto Networks by 34,318.2% during the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after buying an additional 3,249,594 shares during the period. Vanguard Group Inc. lifted its position in Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after acquiring an additional 1,002,239 shares during the period. Swedbank AB purchased a new position in shares of Palo Alto Networks in the 1st quarter valued at approximately $177,933,000. Altshuler Shaham Ltd grew its stake in shares of Palo Alto Networks by 444,100.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after purchasing an additional 444,100 shares during the last quarter. Finally, Congress Asset Management Co. acquired a new position in shares of Palo Alto Networks in the third quarter valued at approximately $94,875,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of analyst reports. Rosenblatt Securities lifted their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a report on Monday, November 4th. Northland Securities increased their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a report on Tuesday, August 20th. UBS Group lifted their price objective on Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, BTIG Research boosted their target price on Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.87.

Palo Alto Networks Trading Up 1.7 %

Shares of PANW stock opened at $398.10 on Tuesday. The company has a market capitalization of $129.62 billion, a price-to-earnings ratio of 54.91, a PEG ratio of 5.68 and a beta of 1.12. The firm has a 50-day moving average price of $355.84 and a 200 day moving average price of $333.78. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $400.69.

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 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 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 quarter in the prior year, the firm posted $0.80 earnings per share. As a group, research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,252 shares of company stock worth $89,383,077 over the last quarter. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks 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.