Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 137.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,234 shares of the network technology company's stock after buying an additional 5,931 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Palo Alto Networks were worth $3,498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PANW. Capital Advisors Ltd. LLC raised its stake in Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock valued at $26,000 after purchasing an additional 41 shares during the period. Sound Income Strategies LLC raised its stake in 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 valued at $29,000 after purchasing an additional 67 shares during the period. Strategic Investment Solutions Inc. IL raised its stake in Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company's stock valued at $29,000 after purchasing an additional 55 shares during the period. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks during the 1st quarter valued at approximately $25,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Palo Alto Networks during the 3rd quarter valued at approximately $32,000. Institutional investors own 79.82% of the company's stock.

Insider Buying and Selling at Palo Alto Networks

In related news, Director Mary Pat Mccarthy sold 10,000 shares of the business's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the sale, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. The trade was a 24.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the business's 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 completion of the sale, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 11.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,252 shares of company stock worth $89,041,637 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PANW has been the topic of a number of research reports. Oppenheimer lifted their price objective on Palo Alto Networks from $410.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. UBS Group lifted their price objective on Palo Alto Networks from $345.00 to $355.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Robert W. Baird lifted their target price on Palo Alto Networks from $385.00 to $425.00 and gave the stock an "outperform" rating in a report on Friday. Barclays boosted their price objective on Palo Alto Networks from $410.00 to $425.00 and gave the company an "overweight" rating in a report on Monday, November 11th. Finally, Bank of America boosted their price objective on Palo Alto Networks from $370.00 to $400.00 and gave the company a "neutral" rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $391.92.

Palo Alto Networks Trading Up 0.2 %

PANW traded up $0.84 during trading on Tuesday, hitting $387.67. The company's stock had a trading volume of 1,122,518 shares, compared to its average volume of 3,830,597. Palo Alto Networks, Inc. has a twelve month low of $249.56 and a twelve month high of $408.53. The business's fifty day simple moving average is $360.72 and its 200 day simple moving average is $337.38. The firm has a market capitalization of $126.23 billion, a price-to-earnings ratio of 53.41, a P/E/G ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $0.80 earnings per share. Palo Alto Networks's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Palo Alto Networks Company 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.