BNC Wealth Management LLC Raises Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

BNC Wealth Management LLC grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,789 shares of the network technology company’s stock after buying an additional 661 shares during the quarter. Palo Alto Networks accounts for approximately 1.7% of BNC Wealth Management LLC’s holdings, making the stock its 19th biggest holding. BNC Wealth Management LLC’s holdings in Palo Alto Networks were worth $4,713,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PANW. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $25,000. Capital Advisors Ltd. LLC raised its holdings in Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares during the period. Sound Income Strategies LLC lifted its position in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. increased its position in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock valued at $89,383,077 over the last ninety days. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. BTIG Research raised their target price on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. KeyCorp raised their price objective on shares of Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. DA Davidson upped their target price on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Susquehanna increased their price target on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. Finally, Robert W. Baird boosted their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Stock Up 5.2 %

Shares of Palo Alto Networks stock opened at $385.18 on Thursday. The firm has a market cap of $125.41 billion, a PE ratio of 53.13, a price-to-earnings-growth ratio of 5.23 and a beta of 1.12. Palo Alto Networks, Inc. has a 52 week low of $234.15 and a 52 week high of $386.20. The business’s fifty day simple moving average is $353.98 and its 200-day simple moving average is $331.32.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.57 earnings per share 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.