ORG Wealth Partners LLC Purchases Shares of 562 Palo Alto Networks, Inc. (NASDAQ:PANW)

ORG Wealth Partners LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 562 shares of the network technology company’s stock, valued at approximately $192,000.

Other hedge funds also recently bought and sold shares of the company. Procyon Advisors LLC raised its position in shares of Palo Alto Networks by 49.4% during the 3rd quarter. Procyon Advisors LLC now owns 11,692 shares of the network technology company’s stock worth $3,995,000 after acquiring an additional 3,866 shares in the last quarter. Paladin Wealth LLC acquired a new stake in shares of Palo Alto Networks during the 3rd quarter worth about $710,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of Palo Alto Networks by 38.5% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 9,283 shares of the network technology company’s stock worth $3,173,000 after acquiring an additional 2,580 shares in the last quarter. Armstrong Advisory Group Inc. raised its position in shares of Palo Alto Networks by 69.5% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 178 shares of the network technology company’s stock worth $61,000 after acquiring an additional 73 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. raised its position in shares of Palo Alto Networks by 6.2% during the 3rd quarter. Ameliora Wealth Management Ltd. now owns 1,984 shares of the network technology company’s stock worth $678,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred on 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 directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred on 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 directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was 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 owns 1,187,567 shares in the company, valued at $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 269,866 shares of company stock worth $88,620,447 over the last quarter. 3.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America raised their target price on Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Barclays lifted their price target on Palo Alto Networks from $350.00 to $370.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Truist Financial lifted their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Robert W. Baird lifted their price target on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Finally, Evercore ISI lifted their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $372.28.

Palo Alto Networks Stock Performance

Shares of PANW opened at $373.91 on Tuesday. The company has a market capitalization of $121.07 billion, a P/E ratio of 54.35, a P/E/G ratio of 5.26 and a beta of 1.13. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $380.84. The stock has a 50-day moving average price of $343.80 and a 200 day moving average price of $320.63.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data 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 return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities research 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.