Allworth Financial LP Acquires 7,386 Shares of Palo Alto Networks, Inc. $PANW

Allworth Financial LP boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 46.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,193 shares of the network technology company’s stock after buying an additional 7,386 shares during the period. Allworth Financial LP’s holdings in Palo Alto Networks were worth $4,723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Palo Alto Networks by 147.7% in the 4th 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 holdings in Palo Alto Networks by 169.1% in the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock valued at $948,000 after purchasing an additional 3,275 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Palo Alto Networks by 66.3% during the second 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 during the last quarter. Ensign Peak Advisors Inc grew its position in shares of Palo Alto Networks by 47.3% during the 2nd quarter. Ensign Peak Advisors Inc now owns 521,482 shares of the network technology company’s stock worth $106,716,000 after buying an additional 167,570 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Palo Alto Networks by 15.6% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 774,755 shares of the network technology company’s stock worth $159,000 after buying an additional 104,688 shares during the period. 79.82% of the stock is owned by institutional investors.

Insider Activity

In other Palo Alto Networks news, EVP Lee Klarich sold 120,768 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $191.03, for a total transaction of $23,070,311.04. Following the completion of the transaction, the executive vice president owned 298,887 shares of the company’s stock, valued at $57,096,383.61. This represents a 28.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $188.18, for a total transaction of $940,900.00. Following the transaction, the executive vice president directly owned 155,119 shares in the company, valued at approximately $29,190,293.42. The trade was a 3.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 149,252 shares of company stock worth $27,888,535 over the last ninety days. 1.40% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $162.95 on Friday. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $223.61. The firm’s 50 day simple moving average is $167.77 and its two-hundred day simple moving average is $188.73. The stock has a market capitalization of $132.97 billion, a P/E ratio of 90.03, a PEG ratio of 6.13 and a beta of 0.78.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the company posted $0.81 EPS. Palo Alto Networks’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on PANW shares. Scotiabank restated an “outperform” rating on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Citizens Jmp restated a “market outperform” rating and issued a $250.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Palo Alto Networks in a report on Monday, December 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Palo Alto Networks from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.19.

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.