Wealth Architects LLC Sells 106 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Wealth Architects LLC reduced its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 778 shares of the network technology company’s stock after selling 106 shares during the period. Wealth Architects LLC’s holdings in Palo Alto Networks were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PANW. Capital Advisors Ltd. LLC grew its holdings in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 41 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks in the 1st quarter valued at $25,000. Finally, First PREMIER Bank lifted its stake in shares of Palo Alto Networks by 48.4% during the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after buying an additional 31 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the sale, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the sale, the director now owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 81,586 shares of the 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 transaction, the chief executive officer now directly 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 sold 255,252 shares of company stock valued at $89,383,077. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Up 5.2 %

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

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PANW shares. JPMorgan Chase & Co. increased their target price on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Cantor Fitzgerald raised Palo Alto Networks to a “strong-buy” rating in a report on Friday, November 1st. BTIG Research upped 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 note on Tuesday, August 20th. BMO Capital Markets lifted their price objective on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, UBS Group increased their target price on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $378.49.

About Palo Alto Networks

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.