Wealthspire Advisors LLC Raises Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Wealthspire Advisors LLC lifted 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 SEC. The fund 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 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. SJS Investment Consulting Inc. boosted its position in Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after buying an additional 69 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares during the last quarter. Valued Wealth Advisors LLC boosted its position in Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after buying an additional 101 shares during the last quarter. Abound Wealth Management boosted its position in Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after buying an additional 72 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC boosted its position in Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price target on Palo Alto Networks from $193.50 to $224.50 and gave the company an “overweight” rating in a report on Monday, November 18th. Evercore ISI decreased their price target on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a report on Tuesday, December 31st. Susquehanna boosted their price target on Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company boosted their price target on Palo Alto Networks from $208.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $204.69.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $191.03 on Monday. The firm has a market capitalization 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, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39. The stock’s 50-day simple moving average is $187.09 and its 200-day simple moving average is $183.70.

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 company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,000 shares of the business’s 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 owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. The trade was a 24.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by insiders.

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.