Leo Wealth LLC Raises Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Leo Wealth LLC boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,497 shares of the network technology company’s stock after purchasing an additional 107 shares during the period. Leo Wealth LLC’s holdings in Palo Alto Networks were worth $702,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Spirit of America Management Corp NY grew its position in Palo Alto Networks by 50.0% during the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock worth $88,000 after purchasing an additional 100 shares during the last quarter. Beacon Pointe Advisors LLC lifted its stake in Palo Alto Networks by 31.4% during the 4th quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after acquiring an additional 26,767 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in Palo Alto Networks by 9.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock valued at $7,291,000 after acquiring an additional 2,225 shares during the period. Sunbelt Securities Inc. lifted its stake in Palo Alto Networks by 91.0% during the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after acquiring an additional 802 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group lifted its stake in Palo Alto Networks by 46.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock valued at $1,232,000 after acquiring an additional 1,325 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Sanford C. Bernstein lifted their price objective on shares of Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. JMP Securities restated a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Redburn Atlantic cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $350.00 to $325.00 in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Palo Alto Networks from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $360.00 target price on shares of Palo Alto Networks in a research note on Wednesday, June 12th. Thirteen 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, the company currently has an average rating of “Moderate Buy” and an average price target of $325.59.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.16, for a total value of $12,209,760.00. Following the transaction, the executive vice president now owns 1,223,567 shares of the company’s stock, valued at $414,984,983.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the sale, the president now owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.16, for a total transaction of $12,209,760.00. Following the sale, the executive vice president now directly owns 1,223,567 shares in the company, valued at approximately $414,984,983.72. The disclosure for this sale can be found here. Insiders have sold 428,391 shares of company stock valued at $136,147,317 over the last 90 days. 3.30% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Shares of PANW traded up $7.01 during mid-day trading on Friday, reaching $330.89. The stock had a trading volume of 3,220,592 shares, compared to its average volume of 4,579,503. Palo Alto Networks, Inc. has a 52-week low of $201.17 and a 52-week high of $380.84. The business’s fifty day moving average is $319.11 and its 200 day moving average is $310.55. The firm has a market cap of $107.14 billion, a price-to-earnings ratio of 48.18, a P/E/G ratio of 5.09 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. Palo Alto Networks’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

About Palo Alto Networks

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.