Gladstone Institutional Advisory LLC Has $3.02 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Gladstone Institutional Advisory LLC trimmed its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 62.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,842 shares of the network technology company’s stock after selling 15,012 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Palo Alto Networks were worth $3,022,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC increased its holdings in Palo Alto Networks by 113.9% in the third 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 grew its holdings 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 worth $29,000 after acquiring an additional 67 shares during the period. Strategic Investment Solutions Inc. IL grew its holdings 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 worth $29,000 after acquiring an additional 55 shares during the period. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks during the 1st quarter worth about $25,000. Finally, First PREMIER Bank grew its holdings in Palo Alto Networks by 48.4% during the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after acquiring an additional 31 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now directly owns 31,517 shares in the company, valued at approximately $10,983,359.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 315,252 shares of company stock worth $107,138,877 in the last quarter. Insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the subject of a number of recent analyst reports. Susquehanna increased their price target on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. Citigroup increased their price target on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. The Goldman Sachs Group increased their price target on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Cantor Fitzgerald raised shares of Palo Alto Networks to a “strong-buy” rating in a research report on Friday. Finally, Piper Sandler increased their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Eleven research 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Stock Up 0.6 %

Shares of PANW stock opened at $362.64 on Friday. The company has a 50 day moving average of $352.69 and a 200-day moving average of $329.01. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00. The firm has a market cap of $118.08 billion, a P/E ratio of 50.02, a PEG ratio of 5.21 and a beta of 1.13.

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, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business posted $0.80 EPS. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

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.