Venturi Wealth Management LLC Acquires 3,147 Shares of Palo Alto Networks, Inc. $PANW

Venturi Wealth Management LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 18.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,070 shares of the network technology company’s stock after purchasing an additional 3,147 shares during the period. Venturi Wealth Management LLC’s holdings in Palo Alto Networks were worth $4,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. boosted its position in Palo Alto Networks by 1.8% in the 3rd quarter. Contravisory Investment Management Inc. now owns 2,742 shares of the network technology company’s stock valued at $558,000 after buying an additional 48 shares during the period. Mattern Wealth Management LLC increased its position in shares of Palo Alto Networks by 2.9% during the third quarter. Mattern Wealth Management LLC now owns 1,692 shares of the network technology company’s stock worth $345,000 after acquiring an additional 48 shares during the period. St. Clair Advisors LLC raised its stake in shares of Palo Alto Networks by 0.3% during the second quarter. St. Clair Advisors LLC now owns 15,800 shares of the network technology company’s stock valued at $3,233,000 after acquiring an additional 50 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its holdings in shares of Palo Alto Networks by 2.1% in the second quarter. Astoria Portfolio Advisors LLC. now owns 2,467 shares of the network technology company’s stock valued at $496,000 after purchasing an additional 50 shares during the period. Finally, Sequent Asset Management LLC grew its stake in Palo Alto Networks by 4.1% in the third quarter. Sequent Asset Management LLC now owns 1,306 shares of the network technology company’s stock worth $266,000 after purchasing an additional 52 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total transaction of $940,900.00. Following the transaction, the executive vice president directly owned 155,119 shares in the company, valued at $29,190,293.42. The trade was a 3.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Josh D. Paul sold 800 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $184.81, for a total value of $147,848.00. Following the transaction, the chief accounting officer directly owned 46,005 shares in the company, valued at $8,502,184.05. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 261,248 shares of company stock valued at $53,316,149. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks Stock Performance

PANW stock opened at $193.98 on Thursday. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $223.61. The firm has a market cap of $135.21 billion, a price-to-earnings ratio of 122.77, a PEG ratio of 4.43 and a beta of 0.76. The firm has a 50-day simple moving average of $195.01 and a two-hundred day simple moving average of $196.29.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm earned $1.56 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PANW. Royal Bank Of Canada upped their target price on Palo Alto Networks from $232.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. BTIG Research restated a “buy” rating on shares of Palo Alto Networks in a report on Wednesday, December 17th. Hsbc Global Res cut shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Thursday, November 20th. Wedbush restated an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a report on Thursday, November 20th. Finally, Barclays upped their price target on shares of Palo Alto Networks from $215.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Thirty-one equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $227.99.

Palo Alto Networks Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.