SVB Wealth LLC Takes $2.67 Million Position in Palo Alto Networks, Inc. $PANW

SVB Wealth LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,062 shares of the network technology company’s stock, valued at approximately $2,673,000.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC raised its position in shares of Palo Alto Networks by 6,400.0% in the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after buying an additional 128 shares during the last quarter. Briaud Financial Planning Inc acquired a new stake in shares of Palo Alto Networks in the second quarter worth $28,000. Howard Hughes Medical Institute purchased a new stake in shares of Palo Alto Networks during the second quarter valued at approximately $29,000. MTM Investment Management LLC acquired a new stake in Palo Alto Networks during the 2nd quarter valued at approximately $31,000. Finally, Dagco Inc. bought a new stake in shares of Palo Alto Networks in the first quarter worth $33,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $189.39, for a total value of $132,573.00. Following the transaction, the chief accounting officer directly owned 46,805 shares of the company’s stock, valued at $8,864,398.95. The trade was a 1.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nikesh Arora sold 846,408 shares of Palo Alto Networks stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $204.06, for a total transaction of $172,718,016.48. Following the completion of the sale, the chief executive officer directly owned 275,013 shares of the company’s stock, valued at approximately $56,119,152.78. This trade represents a 75.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,215,830 shares of company stock worth $249,260,680 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Down 1.8%

Shares of Palo Alto Networks stock opened at $195.35 on Tuesday. The stock has a market cap of $136.16 billion, a P/E ratio of 123.64, a P/E/G ratio of 4.71 and a beta of 0.79. The business’s 50 day moving average is $205.81 and its 200-day moving average is $197.43. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the business earned $1.56 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

PANW has been the subject of several recent research reports. Wedbush reiterated an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a research note on Thursday, November 20th. Citigroup reissued an “outperform” rating on shares of Palo Alto Networks in a research report on Monday, October 27th. Sanford C. Bernstein raised their price target on Palo Alto Networks from $207.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. HSBC lowered shares of Palo Alto Networks from a “hold” rating to a “reduce” rating and set a $157.00 target price for the company. in a research report on Thursday, November 20th. Finally, Morgan Stanley lifted their target price on Palo Alto Networks from $216.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Thirty investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.09.

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.