9258 Wealth Management LLC Has $322,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

9258 Wealth Management LLC lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 23.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,132 shares of the network technology company’s stock after purchasing an additional 217 shares during the quarter. 9258 Wealth Management LLC’s holdings in Palo Alto Networks were worth $322,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Palo Alto Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after buying an additional 1,058,127 shares in the last quarter. Norges Bank bought a new stake in Palo Alto Networks during the fourth quarter worth $1,563,020,000. Clearbridge Investments LLC grew its holdings in Palo Alto Networks by 1.0% during the fourth quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock worth $924,905,000 after buying an additional 30,013 shares in the last quarter. Jennison Associates LLC grew its holdings in Palo Alto Networks by 7.6% during the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after buying an additional 198,078 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after purchasing an additional 2,050,917 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Evercore ISI reduced their price objective on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a research note on Tuesday, May 14th. Macquarie upped their price objective on Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Sanford C. Bernstein upped their price objective on Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Redburn Atlantic upped their price target on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, Wedbush reaffirmed an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Twelve research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $326.29.

Palo Alto Networks Stock Performance

PANW traded down $5.90 on Thursday, hitting $331.16. 1,857,592 shares of the company were exchanged, compared to its average volume of 4,674,833. The firm has a fifty day simple moving average of $314.98 and a two-hundred day simple moving average of $309.12. Palo Alto Networks, Inc. has a 12 month low of $201.17 and a 12 month high of $380.84. The stock has a market capitalization of $107.23 billion, a PE ratio of 48.65, a price-to-earnings-growth ratio of 5.17 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS. On average, equities analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now directly owns 24,982 shares in the company, valued at approximately $8,443,916. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Lee Klarich sold 125,866 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the transaction, the executive vice president now owns 166,542 shares in the company, valued at approximately $55,791,570. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The disclosure for this sale can be found here. In the last three months, insiders have sold 428,391 shares of company stock worth $136,147,317. 3.30% of the stock is currently owned by insiders.

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.