Regal Investment Advisors LLC Has $878,000 Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Regal Investment Advisors LLC grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,589 shares of the network technology company’s stock after purchasing an additional 83 shares during the period. Regal Investment Advisors LLC’s holdings in Palo Alto Networks were worth $878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PANW. Aveo Capital Partners LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter worth about $212,000. Jones Financial Companies Lllp grew its holdings in Palo Alto Networks by 14.0% during the 4th quarter. Jones Financial Companies Lllp now owns 545 shares of the network technology company’s stock worth $161,000 after acquiring an additional 67 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at approximately $418,000. Peapack Gladstone Financial Corp raised its stake in shares of Palo Alto Networks by 9.8% during the fourth quarter. Peapack Gladstone Financial Corp now owns 3,093 shares of the network technology company’s stock valued at $912,000 after acquiring an additional 276 shares during the last quarter. Finally, Belpointe Asset Management LLC lifted its holdings in shares of Palo Alto Networks by 34.6% during the fourth quarter. Belpointe Asset Management LLC now owns 4,275 shares of the network technology company’s stock worth $1,261,000 after purchasing an additional 1,099 shares during the period. 79.82% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the transaction, the executive vice president now directly owns 166,542 shares in the company, valued at $55,791,570. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the transaction, the executive vice president now owns 166,542 shares in the company, valued at approximately $55,791,570. The sale 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 company’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 completion of the transaction, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at $8,014,746.62. The disclosure for this sale can be found here. Insiders sold a total of 359,732 shares of company stock worth $118,815,557 over the last quarter. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Down 3.7 %

Shares of Palo Alto Networks stock opened at $329.29 on Wednesday. Palo Alto Networks, Inc. has a 52 week low of $230.09 and a 52 week high of $380.84. The business has a 50 day moving average price of $337.16 and a 200-day moving average price of $316.24. The company has a market cap of $106.62 billion, a PE ratio of 47.86, a price-to-earnings-growth ratio of 4.98 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results 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 return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm posted $0.80 EPS. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of recent research reports. Susquehanna increased their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a report on Thursday, September 5th. Wedbush restated an “outperform” rating and set a $375.00 price objective on shares of Palo Alto Networks in a research report on Friday, August 16th. Oppenheimer upped their target price on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their price target on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research note on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $369.26.

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.