Apollon Wealth Management LLC Purchases 740 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Apollon Wealth Management LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,806 shares of the network technology company’s stock after acquiring an additional 740 shares during the period. Apollon Wealth Management LLC’s holdings in Palo Alto Networks were worth $3,010,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in Palo Alto Networks by 34,318.2% during the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after buying an additional 3,249,594 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after acquiring an additional 1,002,239 shares during the last quarter. Swedbank AB bought a new stake in Palo Alto Networks in the 1st quarter valued at $177,933,000. Altshuler Shaham Ltd lifted its holdings in Palo Alto Networks by 444,100.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after purchasing an additional 444,100 shares during the last quarter. Finally, Congress Asset Management Co. bought a new position in Palo Alto Networks during the third quarter worth $94,875,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. BNP Paribas assumed coverage on Palo Alto Networks in a report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price objective for the company. JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a report on Monday, November 4th. Stifel Nicolaus boosted their price target on Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Sanford C. Bernstein increased their price objective on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $378.87.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 66,666 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the sale, the chief executive officer now owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palo Alto Networks news, CEO Nikesh Arora sold 66,666 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the sale, the chief executive officer now owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock worth $89,383,077 over the last ninety days. 2.50% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $398.02 on Wednesday. The company has a 50 day simple moving average of $355.84 and a 200 day simple moving average of $333.78. Palo Alto Networks, Inc. has a 1 year low of $234.15 and a 1 year high of $400.69. The firm has a market cap of $129.60 billion, a PE ratio of 54.90, a price-to-earnings-growth ratio of 5.77 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 earnings per share. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

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.