ROI Financial Advisors LLC Acquires 89 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

ROI Financial Advisors LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,597 shares of the network technology company’s stock after purchasing an additional 89 shares during the quarter. Palo Alto Networks comprises about 3.2% of ROI Financial Advisors LLC’s holdings, making the stock its 12th biggest holding. ROI Financial Advisors LLC’s holdings in Palo Alto Networks were worth $4,647,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. lifted its stake in shares of Palo Alto Networks by 13.5% during the first quarter. Avantax Advisory Services Inc. now owns 10,319 shares of the network technology company’s stock valued at $2,932,000 after acquiring an additional 1,229 shares during the period. Kingsview Wealth Management LLC lifted its holdings in Palo Alto Networks by 38.6% in the first quarter. Kingsview Wealth Management LLC now owns 14,229 shares of the network technology company’s stock valued at $4,043,000 after buying an additional 3,965 shares during the period. HBK Sorce Advisory LLC grew its holdings in Palo Alto Networks by 17.9% during the 1st quarter. HBK Sorce Advisory LLC now owns 2,143 shares of the network technology company’s stock worth $609,000 after acquiring an additional 325 shares during the period. Leo Wealth LLC raised its position in shares of Palo Alto Networks by 4.5% during the 1st quarter. Leo Wealth LLC now owns 2,497 shares of the network technology company’s stock valued at $702,000 after acquiring an additional 107 shares during the last quarter. Finally, Great Lakes Retirement Inc. lifted its stake in shares of Palo Alto Networks by 3.2% in the 1st quarter. Great Lakes Retirement Inc. now owns 6,436 shares of the network technology company’s stock valued at $1,829,000 after purchasing an additional 200 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Scotiabank lifted their price objective on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Piper Sandler upped their target price on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Northland Securities lifted their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 20th. Finally, BTIG Research raised their price objective on Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $378.87.

Palo Alto Networks Stock Up 1.1 %

Shares of PANW stock opened at $402.36 on Thursday. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $408.53. The business has a fifty day simple moving average of $356.70 and a 200 day simple moving average of $334.54. The company has a market cap of $131.01 billion, a P/E ratio of 55.50, a P/E/G ratio of 5.77 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $0.80 EPS. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. This trade 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 accessible through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares in the company, valued at $14,175,564.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,252 shares of company stock worth $89,383,077 in the last 90 days. Insiders own 2.50% of the company’s stock.

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.