Argonautica Private Wealth Management Inc. Has $802,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Argonautica Private Wealth Management Inc. lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 104.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,408 shares of the network technology company’s stock after purchasing an additional 2,255 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in Palo Alto Networks were worth $802,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Swedbank AB raised its stake in Palo Alto Networks by 19.7% during the 3rd quarter. Swedbank AB now owns 786,574 shares of the network technology company’s stock valued at $268,851,000 after purchasing an additional 129,371 shares during the last quarter. Howard Capital Management Group LLC increased its holdings in shares of Palo Alto Networks by 1.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock worth $36,316,000 after purchasing an additional 1,619 shares during the period. Allworth Financial LP lifted its stake in shares of Palo Alto Networks by 3.5% in the third quarter. Allworth Financial LP now owns 3,867 shares of the network technology company’s stock valued at $1,322,000 after buying an additional 130 shares during the period. Arkadios Wealth Advisors grew its position in Palo Alto Networks by 44.0% during the third quarter. Arkadios Wealth Advisors now owns 2,850 shares of the network technology company’s stock worth $974,000 after buying an additional 871 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in Palo Alto Networks by 77.6% during the third quarter. GHP Investment Advisors Inc. now owns 302 shares of the network technology company’s stock valued at $103,000 after acquiring an additional 132 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 235,492 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $199,159,581.28. This represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the sale, the executive vice president now directly owns 365,856 shares in the company, valued at $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,122,864 shares of company stock worth $204,315,811. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

PANW has been the topic of several recent research reports. Westpark Capital reissued a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Susquehanna boosted their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a report on Tuesday, February 18th. JMP Securities raised their price objective on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Finally, HSBC cut shares of Palo Alto Networks from a “hold” rating to a “reduce” rating and cut their price target for the stock from $152.00 to $145.50 in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $205.06.

Palo Alto Networks Trading Down 1.3 %

NASDAQ PANW opened at $188.01 on Wednesday. The company has a market capitalization of $124.48 billion, a PE ratio of 105.92, a P/E/G ratio of 5.64 and a beta of 1.14. The stock has a 50-day simple moving average of $186.59 and a 200 day simple moving average of $184.08. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating 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 net margin of 14.64% and a return on equity of 21.93%. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share 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.