Farther Finance Advisors LLC Has $2.34 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Farther Finance Advisors LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 70.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,882 shares of the network technology company’s stock after acquiring an additional 5,330 shares during the quarter. Farther Finance Advisors LLC’s holdings in Palo Alto Networks were worth $2,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in shares of Palo Alto Networks by 102.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 22,870 shares of the network technology company’s stock valued at $4,161,000 after acquiring an additional 11,595 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Palo Alto Networks by 42.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 198,678 shares of the network technology company’s stock worth $36,151,000 after purchasing an additional 59,399 shares during the period. Saturna Capital Corp boosted its holdings in Palo Alto Networks by 136.2% during the fourth quarter. Saturna Capital Corp now owns 8,169 shares of the network technology company’s stock valued at $1,486,000 after purchasing an additional 4,710 shares in the last quarter. PFG Advisors grew its stake in shares of Palo Alto Networks by 88.2% in the 4th quarter. PFG Advisors now owns 5,421 shares of the network technology company’s stock valued at $986,000 after purchasing an additional 2,541 shares during the period. Finally, Summit X LLC raised its holdings in shares of Palo Alto Networks by 109.2% in the 4th quarter. Summit X LLC now owns 4,425 shares of the network technology company’s stock worth $805,000 after buying an additional 2,310 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the transaction, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $198,214,409.80. The trade was a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock worth $204,315,811 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PANW. Jefferies Financial Group boosted their price target on Palo Alto Networks from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Scotiabank upped their target price on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Truist Financial increased their target price on shares of Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a research report on Monday, November 18th. BTIG Research lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Finally, StockNews.com lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.06.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $179.48 on Thursday. The company has a market capitalization of $118.83 billion, a P/E ratio of 101.12, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. The business has a 50-day moving average of $185.73 and a two-hundred day moving average of $184.79. Palo Alto Networks, Inc. has a 1 year low of $132.50 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Palo Alto Networks 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.