Arete Wealth Advisors LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,921 shares of the network technology company’s stock, valued at approximately $384,000.
Several other large investors have also recently added to or reduced their stakes in the company. Geo Capital Gestora de Recursos Ltd boosted its holdings in shares of Palo Alto Networks by 97.8% in the 1st quarter. Geo Capital Gestora de Recursos Ltd now owns 14,224 shares of the network technology company’s stock valued at $2,841,000 after buying an additional 7,034 shares during the period. Titleist Asset Management LLC bought a new position in Palo Alto Networks in the first quarter worth about $583,000. Advisory Services Network LLC boosted its stake in Palo Alto Networks by 21.5% in the first quarter. Advisory Services Network LLC now owns 21,601 shares of the network technology company’s stock valued at $4,315,000 after acquiring an additional 3,823 shares during the period. Sunbelt Securities Inc. bought a new position in shares of Palo Alto Networks during the first quarter valued at approximately $34,000. Finally, KB Financial Partners LLC acquired a new stake in shares of Palo Alto Networks during the 1st quarter worth approximately $120,000. 85.69% of the stock is currently owned by institutional investors.
Insider Activity at Palo Alto Networks
In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $215.17, for a total value of $9,682,650.00. Following the transaction, the executive vice president now directly owns 177,213 shares of the company’s stock, valued at approximately $38,130,921.21. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $215.17, for a total value of $9,682,650.00. Following the completion of the sale, the executive vice president now directly owns 177,213 shares in the company, valued at $38,130,921.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aparna Bawa sold 554 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $245.59, for a total transaction of $136,056.86. Following the transaction, the director now owns 2,690 shares in the company, valued at approximately $660,637.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,140 shares of company stock valued at $40,276,328. Insiders own 3.90% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Analysis on PANW
Palo Alto Networks Price Performance
Shares of PANW opened at $240.20 on Friday. The company has a market capitalization of $74.13 billion, a price-to-earnings ratio of 190.64, a P/E/G ratio of 3.52 and a beta of 1.19. The business’s 50-day moving average is $236.34 and its 200-day moving average is $217.46. Palo Alto Networks, Inc. has a fifty-two week low of $132.22 and a fifty-two week high of $258.88.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its earnings results on Friday, August 18th. The network technology company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. Palo Alto Networks had a net margin of 6.38% and a return on equity of 51.13%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $0.15 EPS. The company’s revenue was up 26.0% compared to the same quarter last year. Equities research analysts expect that Palo Alto Networks, Inc. will post 2.51 earnings per share for the current fiscal year.
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.
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