SOA Wealth Advisors LLC. Has $2.85 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

SOA Wealth Advisors LLC. raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 164.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,712 shares of the network technology company's stock after buying an additional 10,398 shares during the period. SOA Wealth Advisors LLC.'s holdings in Palo Alto Networks were worth $2,852,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Transce3nd LLC acquired a new stake in Palo Alto Networks during the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL raised its position in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after purchasing an additional 55 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 106 shares during the last quarter. Kiely Wealth Advisory Group Inc. boosted its position in shares of Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after purchasing an additional 75 shares during the period. Finally, Capital Advisors Ltd. LLC increased its stake in Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 79 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the transaction, the executive vice president now owns 264,246 shares of the company's stock, valued at $51,564,964.44. This trade represents a 31.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the completion of the sale, the executive vice president now directly owns 3,343,516 shares of the company's stock, valued at $646,502,253.76. The trade was a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 789,736 shares of company stock valued at $139,837,528. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Down 1.6%

Palo Alto Networks stock traded down $3.27 during mid-day trading on Monday, hitting $196.33. The stock had a trading volume of 2,563,808 shares, compared to its average volume of 5,513,813. The stock has a market capitalization of $130.91 billion, a PE ratio of 110.61, a P/E/G ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The stock has a 50-day simple moving average of $180.48 and a two-hundred day simple moving average of $184.92.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Palo Alto Networks's revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 EPS. Sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the subject of several recent analyst reports. Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Barclays lowered their price objective on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Rosenblatt Securities reissued a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 20th. HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price on the stock in a report on Thursday, April 10th. Finally, Truist Financial lowered their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Company Profile

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.