Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Jackson Wealth Management LLC

Jackson Wealth Management LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 94.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,082 shares of the network technology company’s stock after purchasing an additional 2,958 shares during the period. Jackson Wealth Management LLC’s holdings in Palo Alto Networks were worth $2,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its position in Palo Alto Networks by 91.0% during the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after purchasing an additional 802 shares during the period. Alpha Cubed Investments LLC grew its stake in Palo Alto Networks by 16.4% during the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after acquiring an additional 32,626 shares in the last quarter. Jennison Associates LLC grew its stake in Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after acquiring an additional 198,078 shares in the last quarter. Brookstone Capital Management grew its stake in shares of Palo Alto Networks by 48.4% in the 1st quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after buying an additional 8,611 shares during the period. Finally, Wealthspire Advisors LLC grew its stake in shares of Palo Alto Networks by 1.7% in the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after buying an additional 75 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the transaction, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Up 1.6 %

Palo Alto Networks stock traded up $5.82 on Thursday, hitting $364.01. The company’s stock had a trading volume of 440,660 shares, compared to its average volume of 3,991,335. The firm has a market cap of $117.87 billion, a P/E ratio of 53.14, a price-to-earnings-growth ratio of 5.43 and a beta of 1.13. The company has a fifty day moving average price of $350.84 and a 200-day moving average price of $325.17. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 EPS. Analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on PANW. TD Cowen upped their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Scotiabank increased their price objective on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Susquehanna increased their price objective on shares of Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research report on Thursday, September 5th. BNP Paribas initiated coverage on shares of Palo Alto Networks in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $376.82.

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.