Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Clarity Wealth Advisors LLC

Clarity Wealth Advisors LLC grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,171 shares of the network technology company’s stock after purchasing an additional 94 shares during the quarter. Clarity Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $400,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. raised its position in Palo Alto Networks by 91.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after purchasing an additional 802 shares during the last quarter. Alpha Cubed Investments LLC raised its holdings in shares of Palo Alto Networks by 16.4% in the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after buying an additional 32,626 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Palo Alto Networks by 7.6% during the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after buying an additional 198,078 shares during the period. Brookstone Capital Management grew its holdings in shares of Palo Alto Networks by 48.4% during the first quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock worth $7,502,000 after buying an additional 8,611 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its position in Palo Alto Networks by 1.7% in the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.4 %

Shares of PANW traded down $1.32 during mid-day trading on Friday, reaching $374.83. The company had a trading volume of 1,449,963 shares, compared to its average volume of 2,382,185. The stock has a market cap of $122.04 billion, a price-to-earnings ratio of 51.70, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13. The firm has a fifty day simple moving average of $348.67 and a 200-day simple moving average of $322.67. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data 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. 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 quarter in the prior year, the business earned $0.80 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 639,994 shares in the company, valued at $219,505,142.12. The trade was 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 at this link. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the transaction, the chief accounting officer now owns 24,782 shares in the company, valued at approximately $8,014,746.62. The trade was 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 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on PANW shares. TD Cowen lifted their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. KeyCorp lifted their price objective on shares of Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada upped their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their target price on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, Wedbush reissued an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. Eleven investment 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.