Jessup Wealth Management Inc Purchases 1,196 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Jessup Wealth Management Inc grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,392 shares of the network technology company’s stock after buying an additional 1,196 shares during the quarter. Jessup Wealth Management Inc’s holdings in Palo Alto Networks were worth $435,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. ICICI Prudential Asset Management Co Ltd grew its holdings in shares of Palo Alto Networks by 102.2% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 8,545 shares of the network technology company’s stock worth $1,555,000 after acquiring an additional 4,318 shares during the period. Private Advisor Group LLC boosted its position in shares of Palo Alto Networks by 113.3% during the fourth quarter. Private Advisor Group LLC now owns 81,859 shares of the network technology company’s stock valued at $14,895,000 after purchasing an additional 43,480 shares in the last quarter. Good Life Advisors LLC grew its stake in Palo Alto Networks by 57.9% in the fourth quarter. Good Life Advisors LLC now owns 1,167 shares of the network technology company’s stock worth $212,000 after purchasing an additional 428 shares during the period. Financial Perspectives Inc raised its holdings in Palo Alto Networks by 100.0% in the fourth quarter. Financial Perspectives Inc now owns 732 shares of the network technology company’s stock worth $133,000 after purchasing an additional 366 shares in the last quarter. Finally, TKG Advisors LLC lifted its position in Palo Alto Networks by 193.8% during the fourth quarter. TKG Advisors LLC now owns 2,829 shares of the network technology company’s stock valued at $531,000 after buying an additional 1,866 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 336,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the transaction, the executive vice president now directly owns 3,643,516 shares in the company, valued at $705,730,831.62. This trade represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,458,864 shares of company stock worth $269,397,331 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Down 1.5 %

Palo Alto Networks stock opened at $205.19 on Thursday. The firm has a market cap of $134.65 billion, a PE ratio of 115.60, a P/E/G ratio of 5.70 and a beta of 1.14. Palo Alto Networks, Inc. has a 12 month low of $130.04 and a 12 month high of $208.39. The stock’s 50 day simple moving average is $187.11 and its two-hundred day simple moving average is $182.68.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.75 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PANW. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. StockNews.com downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Royal Bank of Canada reissued an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a research report on Monday, February 10th. Wells Fargo & Company lifted their price objective on Palo Alto Networks from $208.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Robert W. Baird boosted their price objective on shares of Palo Alto Networks from $212.50 to $217.50 and gave the company an “outperform” rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $202.70.

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.