3,947 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Acquired by USA Financial Formulas

USA Financial Formulas acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,947 shares of the network technology company’s stock, valued at approximately $1,349,000.

Other institutional investors have also added to or reduced their stakes in the company. Regal Investment Advisors LLC boosted its holdings in shares of Palo Alto Networks by 27.7% during the 4th quarter. Regal Investment Advisors LLC now owns 2,308 shares of the network technology company’s stock valued at $681,000 after acquiring an additional 500 shares in the last quarter. Northwest Wealth Management LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $207,000. Ethic Inc. increased its holdings in shares of Palo Alto Networks by 27.0% during the fourth quarter. Ethic Inc. now owns 23,961 shares of the network technology company’s stock valued at $7,066,000 after acquiring an additional 5,090 shares in the last quarter. Power Corp of Canada bought a new position in shares of Palo Alto Networks in the fourth quarter valued at $353,000. Finally, Alpha Square Group S LLC boosted its stake in Palo Alto Networks by 25.0% during the 4th quarter. Alpha Square Group S LLC now owns 1,250 shares of the network technology company’s stock valued at $369,000 after purchasing an additional 250 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

PANW opened at $362.87 on Thursday. The firm has a market capitalization of $117.50 billion, a PE ratio of 52.74, a price-to-earnings-growth ratio of 4.82 and a beta of 1.13. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $380.84. The business’s 50-day moving average is $339.77 and its two-hundred day moving average is $318.54.

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

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Lee Klarich sold 60,000 shares of the 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 directly 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 filing with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 269,866 shares of company stock worth $88,620,447. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PANW. Stifel Nicolaus upped their price objective on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Scotiabank increased their price objective on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Royal Bank of Canada boosted their target price on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Sanford C. Bernstein increased their target price 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $371.50.

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.