KPP Advisory Services LLC Acquires 2,025 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

KPP Advisory Services LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 310.6% in the third quarter, HoldingsChannel reports. The firm owned 2,677 shares of the network technology company’s stock after purchasing an additional 2,025 shares during the period. KPP Advisory Services LLC’s holdings in Palo Alto Networks were worth $915,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC increased its holdings in shares of 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 valued at $26,000 after acquiring an additional 41 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of 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 valued at $29,000 after acquiring an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its holdings in shares of 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 valued at $29,000 after acquiring an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its holdings in shares of 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 valued at $31,000 after acquiring an additional 100 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

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 Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. This trade represents a 27.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. This represents a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 255,252 shares of company stock worth $89,383,077. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Trading Down 1.9 %

Shares of PANW traded down $7.39 during midday trading on Friday, reaching $387.00. The stock had a trading volume of 2,204,087 shares, compared to its average volume of 3,849,976. The company’s 50-day moving average is $359.86 and its 200 day moving average is $336.07. Palo Alto Networks, Inc. has a 12-month low of $234.15 and a 12-month high of $408.53. The company has a market capitalization of $126.01 billion, a price-to-earnings ratio of 53.38, a price-to-earnings-growth ratio of 5.84 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $0.80 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Truist Financial lifted their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. BMO Capital Markets lifted their target price on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Royal Bank of Canada lifted their target price on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, UBS Group boosted their price objective on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $381.56.

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.