Legacy Financial Advisors Inc. Boosts Holdings in Palo Alto Networks, Inc. $PANW

Legacy Financial Advisors Inc. boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 60.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,546 shares of the network technology company’s stock after acquiring an additional 2,099 shares during the period. Legacy Financial Advisors Inc.’s holdings in Palo Alto Networks were worth $1,891,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PANW. Trilogy Capital Inc. grew its holdings in shares of Palo Alto Networks by 1.8% during the 2nd quarter. Trilogy Capital Inc. now owns 2,127 shares of the network technology company’s stock worth $725,000 after purchasing an additional 37 shares during the period. Wisconsin Wealth Advisors LLC raised its holdings in Palo Alto Networks by 1.2% in the 2nd quarter. Wisconsin Wealth Advisors LLC now owns 3,206 shares of the network technology company’s stock valued at $1,093,000 after buying an additional 38 shares during the period. Orrstown Financial Services Inc. lifted its position in Palo Alto Networks by 1.2% in the second quarter. Orrstown Financial Services Inc. now owns 3,197 shares of the network technology company’s stock valued at $1,090,000 after buying an additional 38 shares during the last quarter. WNY Asset Management LLC lifted its position in Palo Alto Networks by 2.8% in the second quarter. WNY Asset Management LLC now owns 1,751 shares of the network technology company’s stock valued at $597,000 after buying an additional 47 shares during the last quarter. Finally, GSG Advisors LLC boosted its stake in Palo Alto Networks by 0.4% during the first quarter. GSG Advisors LLC now owns 12,536 shares of the network technology company’s stock worth $2,010,000 after buying an additional 51 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. HSBC boosted their price target on shares of Palo Alto Networks from $114.00 to $207.00 in a research note on Thursday, June 4th. Wedbush increased their price objective on shares of Palo Alto Networks from $300.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $450.00 target price (up from $335.00) on shares of Palo Alto Networks in a research report on Friday. Cantor Fitzgerald upped their price target on Palo Alto Networks from $340.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Finally, BNP Paribas Exane raised their price target on Palo Alto Networks from $330.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, forty have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average price target of $370.87.

Palo Alto Networks Price Performance

Shares of PANW opened at $382.13 on Tuesday. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $398.88. The firm’s 50 day moving average price is $346.54 and its 200 day moving average price is $250.56. The company has a market cap of $311.44 billion, a P/E ratio of 313.22, a PEG ratio of 11.74 and a beta of 0.91. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, June 2nd. The network technology company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.94 billion. Palo Alto Networks had a net margin of 7.95% and a return on equity of 10.53%. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. On average, research analysts forecast that Palo Alto Networks, Inc. will post 2.01 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 290 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $348.74, for a total value of $101,134.60. Following the sale, the director owned 6,437 shares of the company’s stock, valued at $2,244,839.38. This trade represents a 4.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $289.56, for a total value of $1,447,800.00. Following the transaction, the executive vice president directly owned 145,250 shares of the company’s stock, valued at approximately $42,058,590. This represents a 3.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,735 shares of company stock worth $10,814,266 over the last quarter. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.