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

Leo Wealth LLC increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,560 shares of the network technology company’s stock after purchasing an additional 75 shares during the quarter. Leo Wealth LLC’s holdings in Palo Alto Networks were worth $875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC raised its stake in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the period. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks in the first quarter worth approximately $25,000. First PREMIER Bank increased its holdings in Palo Alto Networks by 48.4% in the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after buying an additional 31 shares during the last quarter. Cape Investment Advisory Inc. lifted its stake in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Finally, New England Capital Financial Advisors LLC increased its position in shares of Palo Alto Networks by 833.3% during the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PANW shares. BMO Capital Markets lifted their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Evercore ISI lifted their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. BTIG Research lifted their price objective on Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Wedbush reaffirmed an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a research report on Friday, August 16th. Finally, Oppenheimer increased their price target on shares of Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.82.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $376.10 on Wednesday. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00. The business has a 50 day simple moving average of $350.47 and a 200 day simple moving average of $324.94. The firm has a market capitalization of $122.46 billion, a P/E ratio of 51.88, a P/E/G ratio of 5.43 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. Research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

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.