Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 114.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,742 shares of the network technology company’s stock after acquiring an additional 7,330 shares during the period. Wealthspire Advisors LLC’s holdings in Palo Alto Networks were worth $2,500,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC grew its holdings in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Palo Alto Networks during the third quarter worth $29,000. True Wealth Design LLC grew its holdings in Palo Alto Networks by 2,933.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock worth $31,000 after acquiring an additional 88 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Palo Alto Networks during the third quarter worth $32,000. Finally, Princeton Global Asset Management LLC acquired a new position in Palo Alto Networks during the third quarter worth $33,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 3.9 %

Shares of NASDAQ PANW opened at $191.03 on Monday. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39. The business has a 50 day moving average price of $187.09 and a two-hundred day moving average price of $183.70. The firm has a market cap of $126.48 billion, a PE ratio of 107.62, a price-to-earnings-growth ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating 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 firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. On average, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 120,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the transaction, the executive vice president now directly owns 365,856 shares in the company, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,122,864 shares of company stock worth $204,315,811 in the last 90 days. 2.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PANW has been the topic of several research reports. Citigroup lowered their target price on Palo Alto Networks from $216.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Oppenheimer reissued an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Thursday, November 21st. Guggenheim lowered Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a report on Monday, January 6th. Truist Financial upped their target price on Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. upped their target price on Palo Alto Networks from $193.50 to $224.50 and gave the company an “overweight” rating in a report on Monday, November 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.69.

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.