Foundations Investment Advisors LLC Has $17.02 Million Position in Palo Alto Networks, Inc. $PANW

Foundations Investment Advisors LLC boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,603 shares of the network technology company’s stock after purchasing an additional 9,150 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Palo Alto Networks were worth $17,023,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its holdings in Palo Alto Networks by 29.4% in the third quarter. Exchange Traded Concepts LLC now owns 32,155 shares of the network technology company’s stock worth $6,547,000 after purchasing an additional 7,301 shares during the period. Silver Oak Securities Incorporated raised its stake in Palo Alto Networks by 240.1% during the 3rd quarter. Silver Oak Securities Incorporated now owns 11,732 shares of the network technology company’s stock worth $2,389,000 after buying an additional 8,282 shares during the period. GoalVest Advisory LLC raised its stake in Palo Alto Networks by 1,248.9% during the 3rd quarter. GoalVest Advisory LLC now owns 10,899 shares of the network technology company’s stock worth $2,219,000 after buying an additional 10,091 shares during the period. Schroder Investment Management Group lifted its holdings in Palo Alto Networks by 7.9% during the second quarter. Schroder Investment Management Group now owns 2,234,551 shares of the network technology company’s stock worth $457,279,000 after acquiring an additional 163,718 shares in the last quarter. Finally, Richmond Investment Services LLC grew its stake in Palo Alto Networks by 87.2% in the second quarter. Richmond Investment Services LLC now owns 3,286 shares of the network technology company’s stock valued at $672,000 after acquiring an additional 1,531 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $217.94, for a total transaction of $26,321,485.56. Following the sale, the executive vice president owned 356,409 shares in the company, valued at $77,675,777.46. This represents a 25.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $188.18, for a total transaction of $940,900.00. Following the completion of the transaction, the executive vice president directly owned 155,119 shares of the company’s stock, valued at $29,190,293.42. This represents a 3.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 382,016 shares of company stock worth $76,386,460 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PANW shares. TD Cowen lifted their price objective on Palo Alto Networks from $230.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday. UBS Group set a $215.00 price target on shares of Palo Alto Networks and gave the company a “neutral” rating in a report on Tuesday, January 13th. The Goldman Sachs Group reissued a “buy” rating and set a $240.00 price objective (up previously from $236.00) on shares of Palo Alto Networks in a research report on Thursday, November 20th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $235.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, December 17th. Thirty-one investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.09.

Palo Alto Networks Trading Up 0.1%

Shares of PANW opened at $183.74 on Thursday. The stock has a market capitalization of $128.07 billion, a price-to-earnings ratio of 116.29, a PEG ratio of 4.37 and a beta of 0.76. Palo Alto Networks, Inc. has a 12 month low of $144.15 and a 12 month high of $223.61. The firm has a fifty day simple moving average of $187.52 and a 200 day simple moving average of $194.80.

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