Golden State Equity Partners Has $761,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Golden State Equity Partners reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,227 shares of the network technology company’s stock after selling 71 shares during the quarter. Golden State Equity Partners’ holdings in Palo Alto Networks were worth $761,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks in the first quarter worth $25,000. Capital Advisors Ltd. LLC increased its stake in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares during the last quarter. Sound Income Strategies LLC increased its stake 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 acquiring an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. increased its stake 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 acquiring an additional 100 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $359.51 on Thursday. The firm has a market capitalization of $117.06 billion, a PE ratio of 49.59, a P/E/G ratio of 5.31 and a beta of 1.13. The company’s 50-day moving average is $352.23 and its 200-day moving average is $328.16. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during 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%. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. As a group, analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PANW. Needham & Company LLC upped their price target on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. UBS Group upped their price objective on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Rosenblatt Securities upped their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. BMO Capital Markets upped 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. Finally, KeyCorp upped their price objective on shares of Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. 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. According to data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $376.82.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the sale, the director now owns 41,517 shares of the company’s stock, valued at $14,175,564.48. 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. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $47,055,533.37. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 315,252 shares of company stock valued at $107,138,877. Company insiders own 3.30% of the company’s stock.

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.