Aviso Wealth Management Decreases Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Aviso Wealth Management lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,494 shares of the network technology company’s stock after selling 150 shares during the quarter. Aviso Wealth Management’s holdings in Palo Alto Networks were worth $852,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks in the 1st quarter worth about $25,000. Capital Advisors Ltd. LLC boosted its stake in shares of Palo Alto Networks by 113.9% in the third 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 last quarter. Sound Income Strategies LLC increased its position in shares of Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL raised 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. Finally, Cape Investment Advisory Inc. lifted its holdings in Palo Alto Networks by 1,111.1% in the 1st 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 in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

PANW opened at $387.00 on Monday. The business’s 50-day simple moving average is $359.86 and its 200-day simple moving average is $336.73. Palo Alto Networks, Inc. has a one year low of $234.15 and a one year high of $408.53. The stock has a market capitalization of $126.01 billion, a P/E ratio of 53.38, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted 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 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 business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a research note on Monday, November 4th. UBS Group upped their price target on Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. TD Cowen upped their price target on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Stifel Nicolaus upped their price target on Palo Alto Networks from $385.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Northland Securities upped their price target 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $384.76.

Insider Activity at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now owns 31,517 shares of the company’s stock, valued at $10,983,359.33. The trade was a 24.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the sale, the chief executive officer now directly owns 639,994 shares in the company, valued at $219,505,142.12. This trade represents a 9.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,252 shares of company stock worth $89,041,637 in the last quarter. Company insiders own 2.50% 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.