AE Wealth Management LLC Has $8.05 Million Position in Palo Alto Networks, Inc. $PANW

AE Wealth Management LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.3% in the third quarter, Holdings Channel.com reports. The firm owned 39,513 shares of the network technology company’s stock after purchasing an additional 8,232 shares during the period. AE Wealth Management LLC’s holdings in Palo Alto Networks were worth $8,046,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Activest Wealth Management raised its position in Palo Alto Networks by 46.3% during the third quarter. Activest Wealth Management now owns 1,904 shares of the network technology company’s stock valued at $388,000 after buying an additional 603 shares during the period. Fidelis Capital Partners LLC grew its stake in Palo Alto Networks by 6.3% during the 3rd quarter. Fidelis Capital Partners LLC now owns 26,651 shares of the network technology company’s stock valued at $5,427,000 after acquiring an additional 1,582 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in Palo Alto Networks by 608.1% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,457 shares of the network technology company’s stock valued at $500,000 after acquiring an additional 2,110 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Palo Alto Networks by 3.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 488,542 shares of the network technology company’s stock valued at $101,014,000 after purchasing an additional 17,075 shares during the period. Finally, one8zero8 LLC purchased a new stake in shares of Palo Alto Networks in the third quarter worth approximately $420,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PANW. Sanford C. Bernstein boosted their price objective on shares of Palo Alto Networks from $207.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Palo Alto Networks in a report on Monday, November 24th. Evercore ISI upped their price target on shares of Palo Alto Networks from $220.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Stephens lifted their price objective on Palo Alto Networks from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday, November 20th. Finally, Oppenheimer restated an “outperform” rating and issued a $245.00 target price on shares of Palo Alto Networks in a research note on Thursday, November 20th. Thirty-one research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $229.09.

Insider Buying and Selling

In related news, Director James J. Goetz sold 12,500 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the completion of the sale, the director directly owned 75,184 shares of the company’s stock, valued at approximately $14,685,690.72. This represents a 14.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $217.94, for a total transaction of $26,321,485.56. Following the completion of the transaction, the executive vice president owned 356,409 shares in the company, valued at $77,675,777.46. The trade was a 25.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 382,016 shares of company stock worth $76,386,460. 1.40% of the stock is currently owned by company insiders.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $176.97 on Friday. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $223.61. The company’s fifty day moving average price is $187.22 and its two-hundred day moving average price is $194.58. The company has a market capitalization of $123.35 billion, a price-to-earnings ratio of 112.01, a PEG ratio of 4.20 and a beta of 0.76.

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

Palo Alto Networks Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.