Apollon Wealth Management LLC Buys 1,056 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Apollon Wealth Management LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.9% during the fourth quarter, according to the company in its most recent disclosure 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 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PANW. International Assets Investment Management LLC raised its stake in shares of Palo Alto Networks by 29,086.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after buying an additional 2,050,917 shares during the last quarter. Jennison Associates LLC boosted its stake in Palo Alto Networks by 83.1% during the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after acquiring an additional 1,187,915 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Palo Alto Networks by 6,453.6% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock valued at $102,670,000 after purchasing an additional 431,228 shares during the period. Mirova US LLC bought a new stake in Palo Alto Networks in the fourth quarter valued at approximately $106,638,000. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Palo Alto Networks in the third quarter worth $81,918,000. 79.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on PANW shares. Needham & Company LLC restated a “buy” rating and issued a $345.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, April 17th. Royal Bank of Canada upped their target price on shares of Palo Alto Networks to $420.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Scotiabank decreased their price objective on shares of Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 21st. Finally, Barclays decreased their target price on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW traded up $4.95 during trading on Tuesday, reaching $305.52. 4,603,981 shares of the stock traded hands, compared to its average volume of 5,257,741. Palo Alto Networks, Inc. has a 52-week low of $186.75 and a 52-week high of $380.84. The company has a 50-day moving average of $285.94 and a 200-day moving average of $294.03. The stock has a market capitalization of $98.71 billion, a P/E ratio of 46.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.18.

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

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at approximately $7,629,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction 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 approximately $373,434,232.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,917 shares of company stock valued at $44,335,843. Corporate insiders own 3.30% of the company’s stock.

About Palo Alto Networks

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.