OneAscent Financial Services LLC Purchases New Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

OneAscent Financial Services LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, Holdings Channel reports. The firm purchased 909 shares of the network technology company’s stock, valued at approximately $311,000.

Several other institutional investors also recently bought and sold shares of the business. Kathmere Capital Management LLC grew its stake in Palo Alto Networks by 3.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after acquiring an additional 30 shares during the period. FLC Capital Advisors grew its position in shares of Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after purchasing an additional 30 shares during the period. Cromwell Holdings LLC increased its stake in shares of Palo Alto Networks by 3.0% during the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after purchasing an additional 30 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of Palo Alto Networks by 9.4% during the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after purchasing an additional 30 shares in the last quarter. Finally, Geneva Partners LLC raised its position in shares of Palo Alto Networks by 0.3% during the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after purchasing an additional 30 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $388.06 on Wednesday. The stock has a market capitalization of $126.35 billion, a P/E ratio of 53.53, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a fifty-two week low of $249.56 and a fifty-two week high of $408.53. The company has a 50 day moving average price of $361.53 and a 200 day moving average price of $338.02.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping 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 return on equity of 26.83% and a net margin of 32.11%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 earnings per share. On average, research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on PANW. Jefferies Financial Group boosted their price objective on Palo Alto Networks from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley boosted their price target on Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Oppenheimer increased their price objective on Palo Alto Networks from $410.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. KeyCorp lifted their target price on shares of Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Barclays increased their target price on shares of Palo Alto Networks from $410.00 to $425.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $391.92.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the business’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 transaction, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 11.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,252 shares of company stock valued at $89,041,637 in the last three months. 2.50% of the stock is owned by corporate insiders.

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.