Good Life Advisors LLC Acquires Shares of 739 Palo Alto Networks, Inc. (NASDAQ:PANW)

Good Life Advisors LLC acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 739 shares of the network technology company’s stock, valued at approximately $253,000.

Other hedge funds also recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks in the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of Palo Alto Networks by 3,200.0% in 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 in the last quarter. Sound Income Strategies LLC lifted its position in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Cape Investment Advisory Inc. lifted its position in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Finally, New England Capital Financial Advisors LLC lifted its position in shares of Palo Alto Networks by 833.3% in the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was 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 in the company, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock valued at $118,643,279 in the last ninety days. 3.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on PANW. Wedbush reissued an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a research report on Friday, August 16th. 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. Evercore ISI increased their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their price objective on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, The Goldman Sachs Group increased their price objective on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $375.79.

Palo Alto Networks Stock Down 0.4 %

Shares of PANW stock opened at $374.83 on Monday. The stock has a 50-day moving average price of $348.67 and a 200 day moving average price of $323.39. The firm has a market cap of $121.37 billion, a price-to-earnings ratio of 54.48, a PEG ratio of 5.42 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.

Palo Alto Networks (NASDAQ:PANW) last announced 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. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. Sell-side analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

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.