Stratos Wealth Advisors LLC Increases Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Stratos Wealth Advisors LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,443 shares of the network technology company’s stock after acquiring an additional 1,389 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $8,697,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sunbelt Securities Inc. boosted its holdings in shares of 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 during the period. Alpha Cubed Investments LLC boosted its holdings in shares of Palo Alto Networks by 16.4% in the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after acquiring an additional 32,626 shares during the period. Jennison Associates LLC boosted its holdings in shares of 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 acquiring an additional 198,078 shares during the period. Brookstone Capital Management boosted its holdings 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 valued at $7,502,000 after acquiring an additional 8,611 shares during the period. Finally, Wealthspire Advisors LLC boosted its holdings in shares of Palo Alto Networks by 1.7% in the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after acquiring an additional 75 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

PANW opened at $374.83 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $380.84. The business has a 50-day moving average of $348.67 and a 200-day moving average of $322.67. The company has a market capitalization of $122.04 billion, a PE ratio of 51.70, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the business earned $0.80 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PANW shares. Citigroup increased their price target on Palo Alto Networks from $385.00 to $395.00 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. BMO Capital Markets increased their price target on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Finally, Needham & Company LLC raised their target price on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $375.79.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on 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 owns 24,782 shares of the company’s stock, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This trade represents a 0.00 % decrease in their position. 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 that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,452 shares of company stock valued at $118,643,279. Insiders own 3.30% of the company’s stock.

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.