RWA Wealth Partners LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 0.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 62,040 shares of the network technology company’s stock after acquiring an additional 328 shares during the period. RWA Wealth Partners LLC’s holdings in Palo Alto Networks were worth $12,696,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PANW. Brighton Jones LLC raised its position in Palo Alto Networks by 147.7% in the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock valued at $1,230,000 after purchasing an additional 4,031 shares during the last quarter. Bison Wealth LLC raised its holdings in shares of Palo Alto Networks by 169.1% in the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock valued at $948,000 after buying an additional 3,275 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Palo Alto Networks by 3.4% in the first quarter. TD Private Client Wealth LLC now owns 2,223 shares of the network technology company’s stock valued at $379,000 after buying an additional 74 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in Palo Alto Networks by 9.8% during the 1st quarter. Rehmann Capital Advisory Group now owns 2,612 shares of the network technology company’s stock worth $446,000 after acquiring an additional 234 shares during the last quarter. Finally, Leavell Investment Management Inc. increased its position in Palo Alto Networks by 5.2% in the 1st quarter. Leavell Investment Management Inc. now owns 4,393 shares of the network technology company’s stock valued at $750,000 after acquiring an additional 217 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.
Palo Alto Networks Trading Up 0.4%
NASDAQ:PANW opened at $212.29 on Friday. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $223.61. The firm has a market capitalization of $142.00 billion, a price-to-earnings ratio of 132.27, a PEG ratio of 5.03 and a beta of 0.95. The business’s 50-day moving average price is $207.16 and its two-hundred day moving average price is $195.77.
Insider Activity
In other news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $204.19, for a total value of $1,020,950.00. Following the completion of the transaction, the executive vice president owned 96,135 shares of the company’s stock, valued at $19,629,805.65. The trade was a 4.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer directly owned 47,505 shares in the company, valued at $10,449,674.85. The trade was a 1.45% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,215,830 shares of company stock valued at $249,160,428. 2.50% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of brokerages have recently issued reports on PANW. Mizuho upped their target price on shares of Palo Alto Networks from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Guggenheim upped their price objective on Palo Alto Networks from $130.00 to $135.00 and gave the stock a “sell” rating in a report on Tuesday, August 19th. Morgan Stanley increased their price objective on Palo Alto Networks from $210.00 to $216.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Citigroup restated an “outperform” rating on shares of Palo Alto Networks in a research report on Monday, October 27th. Finally, Jefferies Financial Group set a $235.00 price target on Palo Alto Networks in a report on Tuesday, July 29th. Thirty equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.17.
Check Out Our Latest Stock Analysis on Palo Alto Networks
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.
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