Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Great Diamond Partners LLC

Great Diamond Partners LLC decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 754 shares of the network technology company’s stock after selling 274 shares during the quarter. Great Diamond Partners LLC’s holdings in Palo Alto Networks were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PANW. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks in the first quarter worth about $25,000. Capital Advisors Ltd. LLC boosted its holdings in 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 worth $26,000 after acquiring an additional 41 shares during the period. Sound Income Strategies LLC boosted its holdings in Palo Alto Networks by 352.6% in 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 position in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. raised its stake in shares of Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Down 1.6 %

Shares of Palo Alto Networks stock opened at $359.51 on Thursday. The business has a fifty day simple moving average of $352.23 and a 200-day simple moving average of $328.16. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $384.00. The firm has a market cap of $117.06 billion, a price-to-earnings ratio of 49.59, a price-to-earnings-growth ratio of 5.31 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. Analysts anticipate that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. UBS Group boosted their price target on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Robert W. Baird lifted their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Northland Securities upped their target price on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research report on Tuesday, August 20th. Finally, Evercore ISI raised their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $376.82.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 41,517 shares of the company’s stock, valued at $14,175,564.48. 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 is available at this link. In other news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now directly owns 41,517 shares in the company, valued at $14,175,564.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 315,252 shares of company stock worth $107,138,877. Insiders own 3.30% of the company’s stock.

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.