Prospera Financial Services Inc Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Prospera Financial Services Inc raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,280 shares of the network technology company’s stock after purchasing an additional 650 shares during the period. Prospera Financial Services Inc’s holdings in Palo Alto Networks were worth $4,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Kathmere Capital Management LLC boosted its stake in Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares during the period. FLC Capital Advisors boosted its stake in shares of Palo Alto Networks by 0.7% during the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after buying an additional 30 shares during the period. Cromwell Holdings LLC grew its holdings in shares of Palo Alto Networks by 3.0% during the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after buying an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in Palo Alto Networks by 9.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after acquiring an additional 30 shares during the period. Finally, Geneva Partners LLC raised its stake in Palo Alto Networks by 0.3% during the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after acquiring an additional 30 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This represents a 3.13 % decrease in their position. The transaction 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 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 transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 11.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,252 shares of company stock worth $89,041,637. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Stock Up 0.3 %

Shares of NASDAQ:PANW opened at $388.06 on Wednesday. The company has a market cap of $126.35 billion, a P/E ratio of 53.53, a P/E/G ratio of 5.61 and a beta of 1.12. The business has a fifty day simple moving average of $361.53 and a 200-day simple moving average of $338.02. Palo Alto Networks, Inc. has a 52 week low of $249.56 and a 52 week high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results 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 company 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%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. Sell-side analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PANW shares. Barclays lifted their target price on Palo Alto Networks from $410.00 to $425.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Piper Sandler upped their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Northland Securities lifted their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a report on Tuesday, August 20th. Wedbush reissued an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. Finally, Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $391.92.

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.