Palo Alto Networks, Inc. (NASDAQ:PANW) Holdings Raised by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,677 shares of the network technology company’s stock after buying an additional 1,056 shares during the period. Apollon Wealth Management LLC’s holdings in Palo Alto Networks were worth $2,264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Webster Bank N. A. raised its holdings in Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC lifted its holdings in shares of Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after buying an additional 47 shares during the period. MV Capital Management Inc. boosted its stake in Palo Alto Networks by 37.2% during the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after buying an additional 29 shares in the last quarter. Byrne Asset Management LLC grew its holdings in Palo Alto Networks by 277.8% during the third quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock worth $32,000 after acquiring an additional 100 shares during the period. Finally, Alaska Permanent Fund Corp bought a new stake in Palo Alto Networks in the fourth quarter worth about $42,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Up 1.6 %

NASDAQ:PANW traded up $4.95 during mid-day trading on Tuesday, hitting $305.52. 4,603,981 shares of the company’s stock traded hands, compared to its average volume of 5,257,741. The firm has a market capitalization of $98.71 billion, a price-to-earnings ratio of 46.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.18. The firm has a 50 day moving average of $285.94 and a two-hundred day moving average of $294.03. Palo Alto Networks, Inc. has a 12 month low of $186.75 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Analyst Ratings Changes

PANW has been the topic of several recent research reports. Wedbush lifted their price objective on shares of Palo Alto Networks from $350.00 to $425.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. KeyCorp decreased their price target on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Redburn Atlantic boosted their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Truist Financial boosted their target price on shares of Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Finally, Sanford C. Bernstein started coverage on Palo Alto Networks in a research report on Thursday, January 18th. They issued an “outperform” rating for the company. Eleven analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total value of $10,376,640.00. Following the completion of the transaction, the executive vice president now directly owns 1,295,567 shares in the company, valued at $373,434,232.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total value of $10,376,640.00. Following the sale, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at $373,434,232.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,917 shares of company stock worth $44,335,843. Company insiders own 3.30% of the company’s stock.

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.