Parcion Private Wealth LLC Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Parcion Private Wealth LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,243 shares of the network technology company’s stock after buying an additional 152 shares during the quarter. Parcion Private Wealth LLC’s holdings in Palo Alto Networks were worth $1,099,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Cobblestone Capital Advisors LLC NY acquired a new stake in Palo Alto Networks in the 2nd quarter worth about $292,000. SVB Wealth LLC raised its holdings in shares of Palo Alto Networks by 3.6% in the 2nd quarter. SVB Wealth LLC now owns 10,329 shares of the network technology company’s stock worth $3,502,000 after purchasing an additional 362 shares during the period. Mosley Wealth Management raised its holdings in shares of Palo Alto Networks by 52.3% in the 2nd quarter. Mosley Wealth Management now owns 1,168 shares of the network technology company’s stock worth $396,000 after purchasing an additional 401 shares during the period. Ceera Investments LLC purchased a new position in shares of Palo Alto Networks in the 2nd quarter worth about $212,000. Finally, Greystone Financial Group LLC raised its holdings in shares of Palo Alto Networks by 28.3% in the 2nd quarter. Greystone Financial Group LLC now owns 4,741 shares of the network technology company’s stock worth $1,607,000 after purchasing an additional 1,045 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the sale, the president now owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction 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 transaction, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 466,238 shares of company stock worth $154,690,169. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PANW. TD Cowen lifted their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Robert W. Baird lifted their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Wedbush reiterated an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a research report on Friday, August 16th. Finally, Needham & Company LLC lifted their target price on Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $366.08.

Palo Alto Networks Stock Down 2.3 %

Palo Alto Networks stock traded down $7.92 during trading hours on Friday, reaching $335.82. 2,367,589 shares of the company’s stock were exchanged, compared to its average volume of 4,328,734. The firm’s 50 day simple moving average is $335.82 and its 200 day simple moving average is $310.48. The firm has a market capitalization of $108.74 billion, a PE ratio of 48.81, a PEG ratio of 5.29 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $224.64 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly 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 during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. Analysts anticipate that Palo Alto Networks, Inc. will post 3.55 EPS for the current 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.