Rise Advisors LLC Sells 44 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Rise Advisors LLC reduced its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 397 shares of the network technology company’s stock after selling 44 shares during the quarter. Rise Advisors LLC’s holdings in Palo Alto Networks were worth $136,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. boosted its stake in Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares in the last quarter. Sound Income Strategies LLC grew its position 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. Central Bank & Trust Co. grew its position in Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Finally, Cape Investment Advisory Inc. raised its stake in 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 worth $31,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated 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 in the company, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the 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 transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. 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 90 days, insiders sold 269,866 shares of company stock worth $88,620,447. 3.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PANW has been the subject of a number of research analyst reports. DA Davidson upped their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Rosenblatt Securities increased their price target on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Sanford C. Bernstein upped their target price on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Oppenheimer lifted their price target on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Finally, UBS Group upped their price objective on Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $372.28.

Palo Alto Networks Trading Up 1.0 %

Shares of NASDAQ:PANW opened at $373.20 on Monday. The company has a 50 day moving average of $342.20 and a 200 day moving average of $320.00. The stock has a market cap of $120.84 billion, a P/E ratio of 54.24, a P/E/G ratio of 5.26 and a beta of 1.13. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the business earned $0.80 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share 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.