Tyche Wealth Partners LLC Buys 158 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Tyche Wealth Partners LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,679 shares of the network technology company’s stock after purchasing an additional 158 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Palo Alto Networks were worth $1,599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its stake in shares of Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after purchasing an additional 41 shares during the period. Sound Income Strategies LLC grew its position in shares of Palo Alto Networks by 352.6% during the 3rd 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 during the period. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $25,000. Finally, First PREMIER Bank raised its position in shares of Palo Alto Networks by 48.4% in the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 31 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Trading Up 0.2 %

PANW stock traded up $0.62 during mid-day trading on Tuesday, reaching $362.97. The company’s stock had a trading volume of 318,121 shares, compared to its average volume of 3,954,488. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00. The business’s 50 day moving average price is $352.29 and its 200 day moving average price is $327.33. The company has a market cap of $118.18 billion, a price-to-earnings ratio of 50.03, a price-to-earnings-growth ratio of 5.31 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released 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. The company had revenue of $2.19 billion during 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 revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 EPS. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PANW shares. BNP Paribas initiated coverage on shares of Palo Alto Networks in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 target price for the company. Rosenblatt Securities boosted their target price on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Morgan Stanley increased their price target on Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Stifel Nicolaus lifted their price objective on Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Barclays upped their price target on shares of Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $376.82.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated 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 transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 351,452 shares of company stock worth $118,643,279. Company insiders own 3.30% of the company’s stock.

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.