Diversify Advisory Services LLC Has $18.01 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Diversify Advisory Services LLC cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 47,872 shares of the network technology company’s stock after selling 3,895 shares during the quarter. Palo Alto Networks makes up 1.0% of Diversify Advisory Services LLC’s investment portfolio, making the stock its 19th largest position. Diversify Advisory Services LLC’s holdings in Palo Alto Networks were worth $18,005,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PANW. International Assets Investment Management LLC lifted its holdings in Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after purchasing an additional 3,249,594 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Palo Alto Networks by 3.6% during the first quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after buying an additional 1,002,239 shares in the last quarter. Swedbank AB bought a new stake in shares of Palo Alto Networks in the first quarter valued at about $177,933,000. Altshuler Shaham Ltd grew its stake in shares of Palo Alto Networks by 444,100.0% in the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after acquiring an additional 444,100 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Palo Alto Networks by 8.5% during the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after acquiring an additional 255,060 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 0.9 %

PANW opened at $359.10 on Tuesday. The firm has a 50-day moving average price of $352.29 and a 200-day moving average price of $327.33. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $384.00. The company has a market capitalization of $116.92 billion, a price-to-earnings ratio of 49.53, a PEG ratio of 5.31 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data 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 company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business earned $0.80 earnings per share. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Josh D. Paul sold 200 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated 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 directly owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. This trade 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 available through this link. Also, CAO Josh D. Paul sold 200 shares of the business’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 $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock valued at $118,643,279 over the last quarter. 3.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on PANW shares. Wedbush restated an “outperform” rating and set a $375.00 target price on shares of Palo Alto Networks in a research report on Friday, August 16th. Rosenblatt Securities increased their price target on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Piper Sandler boosted their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Evercore ISI lifted their price target 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. Finally, Truist Financial upped their price objective 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. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $376.82.

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.