Woodard & Co. Asset Management Group Inc. ADV Buys 1,860 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Woodard & Co. Asset Management Group Inc. ADV raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 65.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,695 shares of the network technology company’s stock after buying an additional 1,860 shares during the period. Woodard & Co. Asset Management Group Inc. ADV’s holdings in Palo Alto Networks were worth $1,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its stake in shares of Palo Alto Networks by 1,163.0% during the third quarter. Assenagon Asset Management S.A. now owns 223,298 shares of the network technology company’s stock worth $76,323,000 after purchasing an additional 205,618 shares during the period. BOCHK Asset Management Ltd acquired a new position in Palo Alto Networks in the 3rd quarter valued at $3,555,000. Bogart Wealth LLC increased its position in Palo Alto Networks by 0.9% during the 3rd quarter. Bogart Wealth LLC now owns 36,937 shares of the network technology company’s stock worth $12,625,000 after buying an additional 338 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Palo Alto Networks by 700.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 400 shares of the network technology company’s stock worth $137,000 after buying an additional 350 shares in the last quarter. Finally, Jackson Wealth Management LLC boosted its position in shares of Palo Alto Networks by 94.7% in the third quarter. Jackson Wealth Management LLC now owns 6,082 shares of the network technology company’s stock valued at $2,079,000 after acquiring an additional 2,958 shares during the period. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on 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 owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock valued at $118,643,279 over the last quarter. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 1.8 %

Shares of PANW stock opened at $364.58 on Friday. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. The stock has a market cap of $118.71 billion, a price-to-earnings ratio of 50.29, a PEG ratio of 5.45 and a beta of 1.13. The stock has a 50-day moving average of $350.84 and a 200-day moving average of $325.17.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PANW. Piper Sandler raised their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. raised their target price on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Sanford C. Bernstein boosted their price target on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Royal Bank of Canada raised their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company upped their target price on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $376.82.

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.