Kathleen S. Wright Associates Inc. Takes $88,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Kathleen S. Wright Associates Inc. bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, Holdings Channel.com reports. The fund bought 258 shares of the network technology company’s stock, valued at approximately $88,000.

Other hedge funds also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks in the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares during the last quarter. Sound Income Strategies LLC boosted its stake 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 acquiring an additional 67 shares in the last quarter. Central Bank & Trust Co. lifted its holdings in Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Finally, Cape Investment Advisory Inc. boosted its position in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now owns 24,782 shares in the company, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nikesh Arora sold 66,666 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the transaction, the chief executive officer now directly owns 639,994 shares in the company, valued at $219,505,142.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,866 shares of company stock worth $88,620,447 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

PANW traded down $0.96 during mid-day trading on Monday, reaching $372.24. The stock had a trading volume of 567,838 shares, compared to its average volume of 4,063,493. The firm’s fifty day simple moving average is $342.20 and its two-hundred day simple moving average is $320.00. The stock has a market capitalization of $120.53 billion, a P/E ratio of 54.11, a P/E/G ratio of 5.26 and a beta of 1.13. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during 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 period last year, the company earned $0.80 earnings per share. As a group, analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PANW. Wedbush restated an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a research note on Friday, August 16th. Redburn Atlantic lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $350.00 to $325.00 in a research note on Thursday, July 18th. Sanford C. Bernstein raised their target price on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft increased their price objective on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Truist Financial boosted their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $372.28.

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.