Capstone Wealth Management Group LLC Acquires 915 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Capstone Wealth Management Group LLC increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 16.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,320 shares of the network technology company’s stock after purchasing an additional 915 shares during the quarter. Palo Alto Networks makes up 1.3% of Capstone Wealth Management Group LLC’s investment portfolio, making the stock its 22nd biggest holding. Capstone Wealth Management Group LLC’s holdings in Palo Alto Networks were worth $2,160,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks during the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. lifted its position in Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares in the last quarter. Sound Income Strategies LLC boosted its stake in Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 67 shares during the last quarter. Central Bank & Trust Co. increased its holdings in Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Finally, Cape Investment Advisory Inc. raised its stake in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the sale, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the transaction, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at $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. Over the last 90 days, insiders sold 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Rosenblatt Securities lifted their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Stifel Nicolaus increased their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Piper Sandler boosted their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $372.28.

Palo Alto Networks Stock Up 0.1 %

NASDAQ:PANW opened at $374.44 on Wednesday. The firm’s fifty day simple moving average is $345.25 and its 200 day simple moving average is $321.26. The stock has a market cap of $121.24 billion, a P/E ratio of 54.42, a price-to-earnings-growth ratio of 5.26 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results 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. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

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.