Confluence Wealth Services Inc. Buys Shares of 637 Palo Alto Networks, Inc. (NASDAQ:PANW)

Confluence Wealth Services Inc. bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 637 shares of the network technology company’s stock, valued at approximately $218,000.

A number of other large investors have also added to or reduced their stakes in the business. Pathway Financial Advisers LLC purchased a new stake in Palo Alto Networks in the 1st quarter valued at $25,000. Capital Advisors Ltd. LLC increased its holdings 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 boosted its position 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 acquiring an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. boosted its stake in Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PANW shares. Susquehanna increased their target price on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. BMO Capital Markets increased their price target on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Royal Bank of Canada raised their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group upped their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Barclays raised their price objective on Palo Alto Networks from $370.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Eleven investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $378.49.

Palo Alto Networks Trading Down 0.4 %

Palo Alto Networks stock opened at $361.12 on Tuesday. The firm has a market capitalization of $117.58 billion, a P/E ratio of 49.81, a PEG ratio of 5.22 and a beta of 1.12. The business has a 50-day moving average of $352.97 and a 200-day moving average of $330.32. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $384.00.

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. The firm had revenue of $2.19 billion for 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%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. Research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the sale, the director now directly owns 41,517 shares in the company, valued at $14,175,564.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Nikesh Arora sold 81,586 shares of the firm’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 sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now directly 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 quarter, insiders have sold 255,252 shares of company stock worth $89,383,077. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks 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.