Jessup Wealth Management Inc Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Jessup Wealth Management Inc boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,392 shares of the network technology company’s stock after buying an additional 1,196 shares during the period. Jessup Wealth Management Inc’s holdings in Palo Alto Networks were worth $435,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PANW. SJS Investment Consulting Inc. grew its stake in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after buying an additional 69 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 41 shares in the last quarter. Valued Wealth Advisors LLC increased its stake in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after purchasing an additional 101 shares during the period. Abound Wealth Management boosted its stake in shares of Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JMP Securities lifted their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. OTR Global reiterated a “negative” rating on shares of Palo Alto Networks in a research note on Thursday, November 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. Loop Capital reduced their price objective on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Finally, Barclays dropped their price objective on shares of Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $202.70.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $205.19 on Thursday. The business’s 50 day simple moving average is $187.11 and its 200 day simple moving average is $182.68. Palo Alto Networks, Inc. has a 1 year low of $130.04 and a 1 year high of $208.39. The company has a market capitalization of $134.65 billion, a P/E ratio of 115.60, a P/E/G ratio of 5.70 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity

In other news, EVP Lee Klarich sold 120,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the transaction, the executive vice president now owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. The trade was a 24.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 336,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $193.70, for a total value of $65,081,520.00. Following the completion of the sale, the executive vice president now directly owns 3,643,516 shares in the company, valued at $705,730,831.62. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,458,864 shares of company stock worth $269,397,331. 2.50% of the stock is currently owned by corporate insiders.

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.