Mowery & Schoenfeld Wealth Management LLC Has $137,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Markets Daily

Mowery & Schoenfeld Wealth Management LLC grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 700.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400 shares of the network technology company’s stock after purchasing an additional 350 shares during the period. Mowery & Schoenfeld Wealth Management LLC’s holdings in Palo Alto Networks were worth $137,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sunbelt Securities Inc. increased its holdings in Palo Alto Networks by 91.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after buying an additional 802 shares during the period. Alpha Cubed Investments LLC increased its stake in Palo Alto Networks by 16.4% in the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after acquiring an additional 32,626 shares during the period. Jennison Associates LLC raised its position in Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after purchasing an additional 198,078 shares in the last quarter. Brookstone Capital Management lifted its stake in Palo Alto Networks by 48.4% during the first quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock worth $7,502,000 after purchasing an additional 8,611 shares during the period. Finally, Wealthspire Advisors LLC boosted its holdings in Palo Alto Networks by 1.7% during the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the transaction, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the transaction, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 351,452 shares of company stock worth $118,643,279. Insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PANW. BTIG Research increased their target price on Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. BNP Paribas initiated coverage on Palo Alto Networks in a research note on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price objective for the company. Citigroup boosted their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Redburn Atlantic cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $350.00 to $325.00 in a research report on Thursday, July 18th. Finally, Wells Fargo & Company lifted their price target on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $376.82.

Check Out Our Latest Analysis on Palo Alto Networks

Palo Alto Networks Price Performance

PANW stock traded up $4.94 during trading hours on Thursday, reaching $363.13. 573,903 shares of the stock were exchanged, compared to its average volume of 3,991,982. The company has a market cap of $117.58 billion, a price-to-earnings ratio of 52.88, a PEG ratio of 5.43 and a beta of 1.13. The firm’s 50-day moving average is $350.84 and its 200-day moving average is $325.17. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Palo Alto Networks Profile

(Free Report)

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.

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