Mattson Financial Services LLC Sells 65 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Mattson Financial Services LLC cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,668 shares of the network technology company’s stock after selling 65 shares during the period. Palo Alto Networks makes up about 1.0% of Mattson Financial Services LLC’s portfolio, making the stock its 28th biggest holding. Mattson Financial Services LLC’s holdings in Palo Alto Networks were worth $2,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PANW. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. lifted its stake in 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. Central Bank & Trust Co. boosted its holdings in shares of 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 purchasing an additional 50 shares in the last quarter. Cape Investment Advisory Inc. increased its stake in shares of Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Finally, New England Capital Financial Advisors LLC raised its holdings in shares of Palo Alto Networks by 833.3% during the 1st quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock worth $32,000 after buying an additional 100 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PANW shares. Piper Sandler lifted their target price on Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. JMP Securities reissued 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. Stifel Nicolaus boosted their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Wedbush reiterated an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a research note on Friday, August 16th. Finally, Rosenblatt Securities boosted their price objective on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Eleven analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $371.50.

Palo Alto Networks Stock Up 5.1 %

Palo Alto Networks stock opened at $355.13 on Wednesday. The company has a market capitalization of $114.99 billion, a PE ratio of 51.62, a PEG ratio of 4.82 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $380.84. The firm’s fifty day moving average is $338.26 and its 200 day moving average is $317.74.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. Sell-side analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 269,866 shares of company stock valued at $88,620,447. 3.30% of the stock is owned by company insiders.

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.