Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,662 shares of the network technology company’s stock after acquiring an additional 1,112 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Palo Alto Networks were worth $3,615,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Aveo Capital Partners LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $212,000. Gryphon Financial Partners LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $336,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $840,000. PNC Financial Services Group Inc. boosted its stake in shares of Palo Alto Networks by 10.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 65,572 shares of the network technology company’s stock valued at $19,336,000 after buying an additional 6,217 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Palo Alto Networks by 92.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,903 shares of the network technology company’s stock valued at $1,151,000 after buying an additional 1,877 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In other news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now directly owns 24,982 shares in the company, valued at approximately $8,443,916. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now directly owns 24,982 shares in the company, valued at approximately $8,443,916. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 125,866 shares of Palo Alto Networks stock in a transaction on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the transaction, the executive vice president now owns 166,542 shares in the company, valued at $55,791,570. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 464,075 shares of company stock worth $154,029,567. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $337.93 on Wednesday. Palo Alto Networks, Inc. has a 1 year low of $224.64 and a 1 year high of $380.84. The stock has a market cap of $110.03 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 5.03 and a beta of 1.13. The business’s fifty day moving average is $336.41 and its 200-day moving average is $312.63.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (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 analysts’ expectations of $2.16 billion. During the same period last year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts predict that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Daiwa Capital Markets assumed coverage on Palo Alto Networks in a research note on Wednesday, May 29th. They set an “outperform” rating and a $350.00 target price for the company. Truist Financial increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Rosenblatt Securities increased 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. Needham & Company LLC increased their target price on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Thirteen 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $366.08.

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.