B. Riley Wealth Advisors Inc. Has $19.02 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

B. Riley Wealth Advisors Inc. lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,095 shares of the network technology company’s stock after acquiring an additional 226 shares during the period. Palo Alto Networks makes up 0.5% of B. Riley Wealth Advisors Inc.’s holdings, making the stock its 28th biggest holding. B. Riley Wealth Advisors Inc.’s holdings in Palo Alto Networks were worth $19,017,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PANW. Core Alternative Capital lifted its holdings in shares of Palo Alto Networks by 2.0% in the second quarter. Core Alternative Capital now owns 14,081 shares of the network technology company’s stock valued at $4,774,000 after purchasing an additional 281 shares in the last quarter. Regal Investment Advisors LLC lifted its stake in Palo Alto Networks by 3.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 2,589 shares of the network technology company’s stock valued at $878,000 after acquiring an additional 83 shares in the last quarter. Quarry LP boosted its holdings in Palo Alto Networks by 565.9% during the 2nd quarter. Quarry LP now owns 273 shares of the network technology company’s stock worth $93,000 after acquiring an additional 232 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of Palo Alto Networks by 15.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,935 shares of the network technology company’s stock worth $656,000 after acquiring an additional 252 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Palo Alto Networks by 23.5% in the second quarter. NewEdge Advisors LLC now owns 49,608 shares of the network technology company’s stock valued at $16,818,000 after purchasing an additional 9,446 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

PANW opened at $335.75 on Monday. The stock’s 50 day simple moving average is $337.12 and its 200 day simple moving average is $315.53. The firm has a market cap of $109.32 billion, a price-to-earnings ratio of 48.80, a PEG ratio of 4.98 and a beta of 1.13. Palo Alto Networks, Inc. has a 1 year low of $230.09 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 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 company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 125,866 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the sale, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at $55,791,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Lee Klarich sold 125,866 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at $55,791,570. 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 Palo Alto Networks stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the sale, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 359,732 shares of company stock worth $118,815,557. 3.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities upped their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. KeyCorp upped their target price on Palo Alto Networks from $380.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Bank of America upped their price objective on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group lifted their target price on Palo Alto Networks from $330.00 to $376.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Twelve research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.26.

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.