Founders Financial Alliance LLC Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Founders Financial Alliance LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 647 shares of the network technology company’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pathway Financial Advisers LLC bought a new position in shares of Palo Alto Networks in the first quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares in the last quarter. Central Bank & Trust Co. lifted its holdings in Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in Palo Alto Networks in the 4th quarter valued at $31,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 3.7 %

Palo Alto Networks stock opened at $329.29 on Wednesday. Palo Alto Networks, Inc. has a 1-year low of $230.09 and a 1-year high of $380.84. The company has a fifty day simple moving average of $337.16 and a 200 day simple moving average of $316.24. The company has a market cap of $106.62 billion, a P/E ratio of 47.86, a price-to-earnings-growth ratio of 4.98 and a beta of 1.13.

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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company earned $0.80 EPS. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value 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. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. The disclosure for this sale can be found here. Insiders have sold 359,732 shares of company stock valued at $118,815,557 in the last 90 days. 3.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on PANW. Truist Financial upped their price target on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $350.00 to $325.00 in a research note on Thursday, July 18th. BMO Capital Markets raised their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Finally, Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research report 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 given a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $369.26.

Palo Alto Networks Company 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.