Farther Finance Advisors LLC Has $4.76 Million Holdings in Palo Alto Networks, Inc. $PANW

Farther Finance Advisors LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 28.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,352 shares of the network technology company’s stock after buying an additional 5,218 shares during the period. Farther Finance Advisors LLC’s holdings in Palo Alto Networks were worth $4,755,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Darwin Wealth Management LLC acquired a new stake in Palo Alto Networks during the second quarter worth approximately $25,000. Whipplewood Advisors LLC lifted its stake in Palo Alto Networks by 6,400.0% in the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after buying an additional 128 shares during the period. Briaud Financial Planning Inc bought a new position in shares of Palo Alto Networks during the 2nd quarter worth approximately $28,000. Howard Hughes Medical Institute acquired a new stake in shares of Palo Alto Networks during the 2nd quarter worth approximately $29,000. Finally, MTM Investment Management LLC bought a new stake in shares of Palo Alto Networks in the 2nd quarter valued at $31,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PANW. Weiss Ratings reissued a “hold (c)” rating on shares of Palo Alto Networks in a research note on Monday. TD Cowen upped their price objective on shares of Palo Alto Networks from $230.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Wolfe Research raised their target price on Palo Alto Networks from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. DA Davidson set a $240.00 target price on Palo Alto Networks in a research report on Friday, December 19th. Finally, Citigroup reiterated a “market outperform” rating on shares of Palo Alto Networks in a report on Monday, December 15th. Thirty-one equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $226.20.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $191.91, for a total value of $23,177,738.34. Following the completion of the transaction, the executive vice president directly owned 327,645 shares of the company’s stock, valued at $62,878,351.95. This represents a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James J. Goetz sold 12,500 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $195.33, for a total value of $2,441,625.00. Following the sale, the director directly owned 75,184 shares of the company’s stock, valued at $14,685,690.72. The trade was a 14.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 376,922 shares of company stock valued at $77,963,339. Corporate insiders own 1.40% of the company’s stock.

Palo Alto Networks Stock Down 0.6%

Shares of NASDAQ:PANW opened at $186.95 on Thursday. The business’s 50 day moving average is $200.70 and its 200 day moving average is $197.13. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $223.61. The stock has a market cap of $130.30 billion, a price-to-earnings ratio of 118.32, a PEG ratio of 4.47 and a beta of 0.79.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business earned $1.56 EPS. The business’s revenue was up 15.7% on a year-over-year basis. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

About Palo Alto Networks

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.