Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,641 shares of the network technology company’s stock after selling 109 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Palo Alto Networks were worth $561,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Chartwell Investment Partners LLC acquired a new stake in Palo Alto Networks in the third quarter valued at $3,844,000. Patten & Patten Inc. TN acquired a new stake in Palo Alto Networks in the third quarter valued at $200,000. Ashton Thomas Securities LLC acquired a new stake in Palo Alto Networks in the third quarter valued at $1,208,000. Crossmark Global Holdings Inc. lifted its holdings in Palo Alto Networks by 67.1% in the third quarter. Crossmark Global Holdings Inc. now owns 26,788 shares of the network technology company’s stock valued at $9,156,000 after acquiring an additional 10,753 shares during the period. Finally, Tyler Stone Wealth Management lifted its holdings in Palo Alto Networks by 255.5% in the third quarter. Tyler Stone Wealth Management now owns 846 shares of the network technology company’s stock valued at $289,000 after acquiring an additional 608 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PANW has been the subject of a number of recent analyst reports. Truist Financial raised their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Robert W. Baird raised their target price on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Wedbush reaffirmed an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $378.87.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $398.10 on Tuesday. The stock’s 50 day moving average price is $355.13 and its 200 day moving average price is $333.01. The firm has a market capitalization of $129.62 billion, a PE ratio of 54.91, a price-to-earnings-growth ratio of 5.68 and a beta of 1.12. Palo Alto Networks, Inc. has a one year low of $234.15 and a one year high of $400.69.

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

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the sale, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,252 shares of company stock valued at $89,383,077 in the last three months. Corporate insiders own 3.30% 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.