Maia Wealth LLC Sells 172 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Maia Wealth LLC trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,666 shares of the network technology company’s stock after selling 172 shares during the period. Maia Wealth LLC’s holdings in Palo Alto Networks were worth $607,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks in the first quarter valued at about $25,000. Capital Advisors Ltd. LLC raised its holdings in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares in the last quarter. Sound Income Strategies LLC raised its holdings in Palo Alto Networks by 352.6% during the third 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. Strategic Investment Solutions Inc. IL raised its holdings in Palo Alto Networks by 177.4% during the third 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 in the last quarter. Finally, Cape Investment Advisory Inc. raised its holdings 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 acquiring an additional 100 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was 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 directly owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mary Pat Mccarthy sold 10,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock worth $89,383,077 over the last three months. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of several analyst reports. Northland Securities upped their target price on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a report on Tuesday, August 20th. KeyCorp upped their target price on Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company upped their target price on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. TD Cowen boosted their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Wedbush reissued an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research report on Friday, August 16th. Eleven investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Price Performance

NASDAQ PANW opened at $385.18 on Thursday. The business has a fifty day moving average price of $353.98 and a two-hundred day moving average price of $331.32. Palo Alto Networks, Inc. has a fifty-two week low of $234.15 and a fifty-two week high of $386.20. The stock has a market capitalization of $125.41 billion, a PE ratio of 53.13, a PEG ratio of 5.23 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping 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 firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

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.