Stratos Wealth Partners LTD. Has $6.43 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Stratos Wealth Partners LTD. increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 47.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,804 shares of the network technology company’s stock after purchasing an additional 6,090 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Palo Alto Networks were worth $6,427,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PANW. Trust Point Inc. increased its holdings in shares of Palo Alto Networks by 4.6% during the third quarter. Trust Point Inc. now owns 1,746 shares of the network technology company’s stock worth $597,000 after buying an additional 77 shares in the last quarter. Aaron Wealth Advisors LLC grew its position in Palo Alto Networks by 24.1% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 1,495 shares of the network technology company’s stock worth $511,000 after acquiring an additional 290 shares during the last quarter. Claro Advisors LLC increased its holdings in Palo Alto Networks by 277.7% during the 3rd quarter. Claro Advisors LLC now owns 15,125 shares of the network technology company’s stock valued at $5,170,000 after purchasing an additional 11,121 shares in the last quarter. V Square Quantitative Management LLC raised its position in Palo Alto Networks by 4.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 7,564 shares of the network technology company’s stock valued at $2,585,000 after purchasing an additional 303 shares during the last quarter. Finally, Sax Wealth Advisors LLC boosted its stake in Palo Alto Networks by 6.0% in the third quarter. Sax Wealth Advisors LLC now owns 1,325 shares of the network technology company’s stock worth $453,000 after purchasing an additional 75 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 81,586 shares of the firm’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 transaction of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated 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 owns 618,715 shares of the company’s stock, valued at $227,680,932.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,452 shares of company stock worth $118,643,279. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Down 0.4 %

Shares of PANW stock opened at $374.83 on Friday. The company has a market capitalization of $121.37 billion, a price-to-earnings ratio of 54.48, a P/E/G ratio of 5.42 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. The firm has a fifty day moving average of $348.67 and a 200-day moving average of $323.01.

Palo Alto Networks (NASDAQ:PANW) last released 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. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. On average, equities analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PANW shares. The Goldman Sachs Group raised their target price on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Scotiabank raised their price objective on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Stifel Nicolaus upped their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Rosenblatt Securities raised their price target on shares of Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Finally, Morgan Stanley upped their price objective on Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $375.79.

Palo Alto Networks Company Profile

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.