Sanctuary Advisors LLC Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Sanctuary Advisors LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 85,734 shares of the network technology company’s stock, valued at approximately $29,065,000.

Other hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks during the first quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in Palo Alto Networks in the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter valued at $31,000. Finally, Central Bank & Trust Co. boosted its position in Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was 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 owns 166,542 shares in the company, valued at $55,791,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $55,791,570. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares in the company, 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 in the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Down 3.7 %

Shares of PANW 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 company has a market capitalization of $106.62 billion, a price-to-earnings ratio of 47.86, a PEG ratio of 4.98 and a beta of 1.13. The stock’s 50-day moving average price is $337.16 and its 200-day moving average price is $316.24.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping 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 firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the topic of a number of research reports. The Goldman Sachs Group raised their target price on shares of Palo Alto Networks from $330.00 to $376.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Piper Sandler increased their price target on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Oppenheimer raised their price target on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. KeyCorp upped their price objective on shares of Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, DA Davidson upped their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Twelve investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target 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.