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 17.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,302 shares of the network technology company’s stock after acquiring an additional 640 shares during the period. Wealthspire Advisors LLC’s holdings in Palo Alto Networks were worth $1,269,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in shares of Palo Alto Networks by 29,086.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after purchasing an additional 2,050,917 shares during the last quarter. Jennison Associates LLC raised its position in shares of Palo Alto Networks by 83.1% during the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after buying an additional 1,187,915 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Palo Alto Networks by 6,453.6% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock valued at $102,670,000 after buying an additional 431,228 shares during the period. Mirova US LLC purchased a new stake in shares of Palo Alto Networks during the 4th quarter valued at approximately $106,638,000. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Palo Alto Networks during the 3rd quarter valued at approximately $81,918,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 121,276 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the sale, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at approximately $49,895,983.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Lee Klarich sold 121,276 shares of Palo Alto Networks stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $299.60, for a total value of $36,334,289.60. Following the completion of the transaction, the executive vice president now directly owns 166,542 shares in the company, valued at $49,895,983.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total value of $10,376,640.00. Following the sale, the executive vice president now owns 1,295,567 shares in the company, valued at $373,434,232.08. The disclosure for this sale can be found here. Insiders sold a total of 280,193 shares of company stock worth $80,670,132 in the last ninety days. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PANW shares. KeyCorp reduced their price target on shares of Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Truist Financial boosted their price target on shares of Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Northland Securities downgraded shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 target price for the company. in a research note on Wednesday, February 21st. Susquehanna lowered their target price on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating for the company in a research note on Monday, February 26th. Finally, Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Trading Up 1.4 %

Shares of PANW stock traded up $4.12 during trading hours on Friday, hitting $299.79. The company’s stock had a trading volume of 226,249 shares, compared to its average volume of 5,154,199. The business has a fifty day moving average of $285.49 and a 200-day moving average of $294.53. The stock has a market cap of $96.86 billion, a price-to-earnings ratio of 46.20, a P/E/G ratio of 4.03 and a beta of 1.18. Palo Alto Networks, Inc. has a twelve month low of $186.75 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. On average, equities analysts expect that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

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.