B. Riley Wealth Advisors Inc. Has $14.01 Million Holdings in Palo Alto Networks, Inc. $PANW

B. Riley Wealth Advisors Inc. grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,821 shares of the network technology company’s stock after acquiring an additional 5,913 shares during the quarter. Palo Alto Networks comprises 0.6% of B. Riley Wealth Advisors Inc.’s holdings, making the stock its 26th largest holding. B. Riley Wealth Advisors Inc.’s holdings in Palo Alto Networks were worth $14,013,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after purchasing an additional 4,031 shares during the last quarter. Bison Wealth LLC increased its stake in Palo Alto Networks by 169.1% in the 4th 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. Sivia Capital Partners LLC lifted its position in shares of Palo Alto Networks by 66.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock worth $713,000 after buying an additional 1,389 shares in the last quarter. Canopy Partners LLC boosted its stake in shares of Palo Alto Networks by 31.1% in the 2nd quarter. Canopy Partners LLC now owns 2,194 shares of the network technology company’s stock worth $449,000 after buying an additional 520 shares during the last quarter. Finally, American National Bank & Trust grew its holdings in shares of Palo Alto Networks by 54.8% in the second quarter. American National Bank & Trust now owns 407 shares of the network technology company’s stock valued at $83,000 after acquiring an additional 144 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Evercore ISI lifted their price target on Palo Alto Networks from $220.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, November 13th. UBS Group set a $215.00 target price on Palo Alto Networks and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Thursday, November 20th. BTIG Research reissued a “buy” rating on shares of Palo Alto Networks in a report on Wednesday, December 17th. Finally, Mizuho set a $220.00 price target on shares of Palo Alto Networks in a research report on Tuesday, December 16th. Thirty-one analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.09.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $77,675,777.46. The trade was a 25.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 800 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $184.81, for a total transaction of $147,848.00. Following the completion of the sale, the chief accounting officer owned 46,005 shares in the company, valued at $8,502,184.05. This represents a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 382,016 shares of company stock worth $76,386,460 in the last 90 days. 1.40% of the stock is owned by company insiders.

Palo Alto Networks Stock Down 1.1%

NASDAQ PANW opened at $180.18 on Monday. The firm has a market cap of $125.59 billion, a P/E ratio of 114.04, a price-to-earnings-growth ratio of 4.29 and a beta of 0.76. The company’s 50 day moving average is $188.56 and its 200-day moving average is $194.96. 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 released its quarterly earnings data 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. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. Palo Alto Networks’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.56 EPS. Equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

About Palo Alto Networks

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.