Vivid Wealth Management LLC Increases Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Vivid Wealth Management LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,864 shares of the network technology company’s stock after acquiring an additional 532 shares during the period. Vivid Wealth Management LLC’s holdings in Palo Alto Networks were worth $2,346,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after purchasing an additional 3,249,594 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after acquiring an additional 1,002,239 shares during the period. Swedbank AB acquired a new stake in shares of Palo Alto Networks in the first quarter worth approximately $177,933,000. Altshuler Shaham Ltd grew its holdings in Palo Alto Networks by 444,100.0% in the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after purchasing an additional 444,100 shares during the period. Finally, Legal & General Group Plc increased its position in Palo Alto Networks by 8.5% during the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after purchasing an additional 255,060 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the sale, the executive vice president now directly owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PANW has been the subject of several research reports. Barclays boosted their price objective on shares of Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Rosenblatt Securities upped their price target on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Royal Bank of Canada boosted their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Finally, Oppenheimer lifted their target price on shares of Palo Alto Networks from $410.00 to $450.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Eleven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $376.82.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW traded down $3.97 during mid-day trading on Monday, hitting $362.47. The company had a trading volume of 467,363 shares, compared to its average volume of 3,966,700. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00. The stock has a market cap of $117.37 billion, a price-to-earnings ratio of 52.66, a PEG ratio of 5.45 and a beta of 1.13. The firm’s 50 day simple moving average is $351.91 and its two-hundred day simple moving average is $326.78.

Palo Alto Networks (NASDAQ:PANW) last posted 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business posted $0.80 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

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.