Aviso Wealth Management Has $896,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Aviso Wealth Management grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,644 shares of the network technology company’s stock after purchasing an additional 552 shares during the quarter. Aviso Wealth Management’s holdings in Palo Alto Networks were worth $896,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Kathmere Capital Management LLC raised its holdings in Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares during the period. Cascade Investment Group Inc. raised its holdings in shares of Palo Alto Networks by 2.9% during the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after acquiring an additional 31 shares during the period. Sheets Smith Wealth Management raised its holdings in shares of Palo Alto Networks by 2.4% during the first quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock worth $420,000 after acquiring an additional 34 shares during the period. Pin Oak Investment Advisors Inc. raised its holdings in shares of Palo Alto Networks by 41.2% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 120 shares of the network technology company’s stock worth $35,000 after acquiring an additional 35 shares during the period. Finally, First County Bank CT raised its holdings in shares of Palo Alto Networks by 1.0% during the fourth quarter. First County Bank CT now owns 3,537 shares of the network technology company’s stock worth $1,043,000 after acquiring an additional 35 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the firm’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 transaction, the president now owns 19,026 shares in the company, valued at approximately $6,452,097.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the transaction, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the transaction, the president now owns 19,026 shares in the company, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. Insiders have sold a total of 464,075 shares of company stock worth $154,029,567 in the last 90 days. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Down 0.9 %

Shares of NASDAQ:PANW opened at $335.75 on Friday. The company’s 50 day moving average price is $337.12 and its two-hundred day moving average price is $315.35. Palo Alto Networks, Inc. has a 12-month low of $230.09 and a 12-month high of $380.84. The firm has a market cap of $109.32 billion, a PE ratio of 48.80, a PEG ratio of 4.98 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company earned $0.80 EPS. The company’s revenue was up 12.1% on a year-over-year basis. On average, research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PANW. Susquehanna raised their price objective on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. Northland Securities raised their price objective on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a report on Tuesday, August 20th. Rosenblatt Securities raised their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Scotiabank raised their price objective on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $366.08.

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.