Resonant Capital Advisors LLC Acquires 458 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Resonant Capital Advisors LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,738 shares of the network technology company’s stock after purchasing an additional 458 shares during the period. Resonant Capital Advisors LLC’s holdings in Palo Alto Networks were worth $2,645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. increased its holdings in shares of 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 buying an additional 96 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 67 shares in the last quarter. Central Bank & Trust Co. increased its holdings in shares of Palo Alto Networks by 89.3% during the first 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, Cape Investment Advisory Inc. increased its holdings in shares of Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the company’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 transaction of $11,970,000.00. Following the sale, the executive vice president now directly 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 position. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock valued at $118,643,279 in the last quarter. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Down 0.4 %

PANW opened at $374.83 on Friday. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $380.84. The stock has a market capitalization of $121.37 billion, a P/E ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. The firm’s fifty day simple moving average is $348.67 and its 200 day simple moving average is $323.01.

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 business 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%. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 EPS. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on PANW shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a report on Monday, August 19th. BMO Capital Markets raised their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Bank of America raised their price objective on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Barclays raised their price objective on shares of Palo Alto Networks from $370.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Truist Financial raised their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Eleven investment 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 stock. According to data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $375.79.

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.