Sound Income Strategies LLC Purchases 67 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Sound Income Strategies LLC grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 352.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 86 shares of the network technology company’s stock after buying an additional 67 shares during the period. Sound Income Strategies LLC’s holdings in Palo Alto Networks were worth $29,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks during the first quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. raised its position in 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. Central Bank & Trust Co. raised its position in Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Cape Investment Advisory Inc. raised its position in 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 raised its position in 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. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.1 %

Shares of NASDAQ:PANW opened at $374.44 on Wednesday. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $380.84. The company’s fifty day simple moving average is $345.25 and its 200 day simple moving average is $321.26. The firm has a market cap of $121.24 billion, a price-to-earnings ratio of 54.42, a PEG ratio of 5.26 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data 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 net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business posted $0.80 earnings per share. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Research analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PANW shares. Evercore ISI increased their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Redburn Atlantic lowered 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 report on Thursday, July 18th. Morgan Stanley upped their price objective on shares of Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. 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, Barclays upped their price objective on shares of Palo Alto Networks from $350.00 to $370.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $372.28.

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.