Jeppson Wealth Management LLC Purchases 81 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Jeppson Wealth Management LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,040 shares of the network technology company’s stock after purchasing an additional 81 shares during the quarter. Palo Alto Networks accounts for 0.8% of Jeppson Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Jeppson Wealth Management LLC’s holdings in Palo Alto Networks were worth $2,048,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PANW. Vanguard Group Inc. increased its stake in shares of Palo Alto Networks by 3.6% in the first quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after buying an additional 1,002,239 shares in the last quarter. Norges Bank acquired a new stake in Palo Alto Networks in the 4th quarter valued at about $1,563,020,000. Clearbridge Investments LLC raised its stake in shares of Palo Alto Networks by 1.0% in the fourth quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock worth $924,905,000 after acquiring an additional 30,013 shares during the last quarter. Jennison Associates LLC lifted its position in shares of 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 purchasing an additional 198,078 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Palo Alto Networks by 8.7% during the fourth quarter. Franklin Resources Inc. now owns 1,710,943 shares of the network technology company’s stock valued at $504,523,000 after purchasing an additional 137,514 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Trading Up 0.3 %

Shares of Palo Alto Networks stock traded up $0.89 on Friday, reaching $344.63. 157,311 shares of the company were exchanged, compared to its average volume of 4,315,892. The company has a market capitalization of $111.59 billion, a price-to-earnings ratio of 49.96, a PEG ratio of 5.29 and a beta of 1.13. Palo Alto Networks, Inc. has a one year low of $224.64 and a one year high of $380.84. The company has a 50-day moving average of $335.88 and a 200 day moving average of $310.69.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during 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 posted $0.80 earnings per share. Analysts predict that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John P. Key sold 2,163 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the sale, the director now owns 12,639 shares in the company, valued at approximately $3,860,076.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now owns 19,026 shares in the company, valued at $6,452,097.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John P. Key sold 2,163 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the completion of the transaction, the director now directly owns 12,639 shares in the company, valued at approximately $3,860,076.99. The disclosure for this sale can be found here. Insiders have sold a total of 339,572 shares of company stock valued at $111,126,265 over the last 90 days. 3.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Scotiabank raised their price target on Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Piper Sandler lifted their price objective on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Bank of America upped their target price on shares of Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Thirteen investment analysts have rated the stock with 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $366.08.

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.