Kingsview Wealth Management LLC Boosts Holdings in Palo Alto Networks, Inc. $PANW

Kingsview Wealth Management LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,565 shares of the network technology company’s stock after purchasing an additional 441 shares during the period. Kingsview Wealth Management LLC’s holdings in Palo Alto Networks were worth $4,413,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock valued at $1,230,000 after acquiring an additional 4,031 shares in the last quarter. Bison Wealth LLC increased its holdings in Palo Alto Networks by 169.1% during the 4th quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock worth $948,000 after purchasing an additional 3,275 shares during the period. Csenge Advisory Group raised its position in Palo Alto Networks by 2.4% in the 1st quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company’s stock valued at $381,000 after purchasing an additional 53 shares in the last quarter. Calton & Associates Inc. acquired a new stake in Palo Alto Networks in the 1st quarter valued at about $296,000. Finally, OneAscent Financial Services LLC boosted its stake in shares of Palo Alto Networks by 37.7% in the 1st quarter. OneAscent Financial Services LLC now owns 2,748 shares of the network technology company’s stock valued at $470,000 after buying an additional 753 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PANW has been the topic of several analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Palo Alto Networks in a report on Monday, October 27th. Royal Bank Of Canada increased their price objective on shares of Palo Alto Networks from $232.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. TD Cowen lifted their price objective on shares of Palo Alto Networks from $230.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Bank of America boosted their target price on shares of Palo Alto Networks from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, Rosenblatt Securities cut their price target on Palo Alto Networks from $235.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Twenty-nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.24.

Palo Alto Networks Price Performance

NASDAQ PANW opened at $202.90 on Tuesday. The firm’s fifty day moving average price is $209.18 and its 200 day moving average price is $197.32. Palo Alto Networks, Inc. has a 12 month low of $144.15 and a 12 month high of $223.61. The company has a market capitalization of $138.78 billion, a price-to-earnings ratio of 126.42, a price-to-earnings-growth ratio of 4.88 and a beta of 0.95.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 18th. The network technology company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.50 billion. Palo Alto Networks had a net margin of 12.30% and a return on equity of 17.66%. Palo Alto Networks’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $219.97, for a total value of $153,979.00. Following the completion of the sale, the chief accounting officer owned 47,505 shares in the company, valued at approximately $10,449,674.85. The trade was a 1.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the firm’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 transaction, the executive vice president owned 356,409 shares in the company, valued at approximately $77,675,777.46. This trade represents a 25.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,215,830 shares of company stock valued at $249,160,428 over the last quarter. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks 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.