Aprio Wealth Management LLC Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Aprio Wealth Management LLC increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 32.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 942 shares of the network technology company’s stock after buying an additional 232 shares during the quarter. Aprio Wealth Management LLC’s holdings in Palo Alto Networks were worth $322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks during the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares in the last quarter. Central Bank & Trust Co. lifted its holdings in Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Cape Investment Advisory Inc. lifted its holdings in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Finally, New England Capital Financial Advisors LLC lifted its holdings in Palo Alto Networks by 833.3% during the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 66,666 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total value of $22,865,104.68. Following the completion of the sale, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at $219,505,142.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the sale, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 66,666 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the sale, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,866 shares of company stock valued at $88,620,447 over the last three months. 3.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PANW has been the topic of several analyst reports. Needham & Company LLC lifted their price target on shares of Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Sanford C. Bernstein lifted their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Rosenblatt Securities lifted their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, Northland Securities lifted their price objective on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $371.50.

Palo Alto Networks Trading Up 5.1 %

Shares of PANW opened at $355.13 on Wednesday. The firm has a market capitalization of $114.99 billion, a P/E ratio of 51.62, a P/E/G ratio of 4.82 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $380.84. The firm has a fifty day moving average price of $338.26 and a 200-day moving average price of $317.74.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 earnings per share. Analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

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.