Lineweaver Wealth Advisors LLC decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 36.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,349 shares of the network technology company’s stock after selling 1,884 shares during the period. Lineweaver Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $1,330,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Accel Wealth Management purchased a new stake in shares of Palo Alto Networks in the third quarter worth approximately $227,000. Downshift Financial LLC boosted its holdings in Palo Alto Networks by 165.9% during the 3rd quarter. Downshift Financial LLC now owns 335 shares of the network technology company’s stock valued at $133,000 after acquiring an additional 209 shares during the period. Lincoln Capital Corp purchased a new position in Palo Alto Networks during the 3rd quarter valued at $213,000. Heffernan Advisory Inc. grew its position in Palo Alto Networks by 101.7% in the 3rd quarter. Heffernan Advisory Inc. now owns 1,210 shares of the network technology company’s stock valued at $481,000 after acquiring an additional 610 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new position in Palo Alto Networks in the 3rd quarter valued at $228,000. 79.82% of the stock is owned by hedge funds and other institutional investors.
Palo Alto Networks Stock Down 1.7%
PANW traded down $6.80 on Tuesday, hitting $397.03. The company had a trading volume of 3,477,156 shares, compared to its average volume of 8,204,321. The stock has a market capitalization of $324.77 billion, a price-to-earnings ratio of 778.51, a P/E/G ratio of 12.05 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average price of $372.63 and a 200-day moving average price of $297.62. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $432.33.
Wall Street Analyst Weigh In
PANW has been the subject of several research analyst reports. Robert W. Baird set a $420.00 target price on Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $425.00 target price on shares of Palo Alto Networks in a research note on Tuesday, September 8th. Benchmark raised their price target on Palo Alto Networks from $340.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Arete Research increased their target price on shares of Palo Alto Networks from $185.00 to $433.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Susquehanna raised their target price on shares of Palo Alto Networks from $350.00 to $415.00 and gave the company a “positive” rating in a research report on Wednesday, September 2nd. Thirty-eight analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $392.38.
Check Out Our Latest Report on Palo Alto Networks
Insider Activity
In related news, Director James Goetz sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $376.68, for a total transaction of $7,533,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aparna Bawa sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $373.61, for a total transaction of $373,610.00. Following the completion of the sale, the director owned 5,437 shares of the company’s stock, valued at approximately $2,031,317.57. This trade represents a 15.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,210 shares of company stock worth $20,823,029 over the last 90 days. 1.40% of the stock is currently owned by insiders.
Palo Alto Networks Profile
Palo Alto Networks, Inc is a cybersecurity company that provides solutions designed to help organizations protect networks, endpoints, cloud environments, applications and users from cyber threats. Its offerings include next-generation firewalls, cloud-delivered security services, secure access service edge (SASE) solutions, endpoint protection and security operations tools.
The company also provides platforms and services for cloud security, threat intelligence, incident response, vulnerability management and the automation of security operations.
Featured Articles
- Five stocks we like better than Palo Alto Networks
- A Chinese Rival Just Spooked Memory Stocks—How Worried Should Micron Investors Be?
- Could T-Mobile’s Satellite Competition Fears Create a Buying Opportunity?
- Surgical Precision, Sustainable Returns: Johnson & Johnson Secures Its Cash Flow Runway
- Tesla’s Robotaxi Lands in Paris—But Europe’s Real Fight Is Over Cheap EVs
Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report).
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.
