Empower Advisory Group LLC Has $739,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Empower Advisory Group LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 70.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,162 shares of the network technology company’s stock after purchasing an additional 890 shares during the period. Empower Advisory Group LLC’s holdings in Palo Alto Networks were worth $739,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PANW. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks during the first quarter worth approximately $25,000. Capital Advisors Ltd. LLC boosted its holdings in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of Palo Alto Networks by 352.6% in the 3rd 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 in the last quarter. Strategic Investment Solutions Inc. IL lifted its position in shares of Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. boosted 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. 79.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the sale, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated 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 owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock worth $89,383,077 in the last quarter. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Stock Down 2.0 %

NASDAQ PANW opened at $394.39 on Friday. The firm has a market cap of $128.41 billion, a P/E ratio of 54.40, a price-to-earnings-growth ratio of 5.77 and a beta of 1.12. The company’s 50 day moving average is $357.82 and its 200-day moving average is $335.01. Palo Alto Networks, Inc. has a 12-month low of $234.15 and a 12-month high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping 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 business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. Equities analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PANW. Sanford C. Bernstein upped their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Redburn Atlantic lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their price target for the stock from $350.00 to $325.00 in a report on Thursday, July 18th. Truist Financial boosted their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Cantor Fitzgerald upgraded Palo Alto Networks to a “strong-buy” rating in a report on Friday, November 1st. Finally, TD Cowen boosted their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $380.28.

Palo Alto Networks 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.