TRUE Private Wealth Advisors Buys 3,716 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

TRUE Private Wealth Advisors raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 99.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,437 shares of the network technology company’s stock after acquiring an additional 3,716 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Palo Alto Networks were worth $1,353,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its holdings in shares of Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after purchasing an additional 69 shares during the last quarter. Valued Wealth Advisors LLC grew its stake in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after buying an additional 101 shares during the last quarter. Abound Wealth Management increased its holdings in shares of Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC raised its stake in shares of 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 acquiring an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 79 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Up 0.1 %

NASDAQ:PANW opened at $152.53 on Wednesday. The firm has a fifty day simple moving average of $183.39 and a 200 day simple moving average of $184.91. Palo Alto Networks, Inc. has a 1-year low of $134.83 and a 1-year high of $208.39. The stock has a market capitalization of $100.99 billion, a PE ratio of 85.93, a P/E/G ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $2.24 billion. On average, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PANW shares. Citigroup raised their price target on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $190.00 target price (down from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. StockNews.com cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Evercore ISI lowered their target price on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a research note on Tuesday, December 31st. Finally, UBS Group upped their price target on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.27.

Insider Transactions at Palo Alto Networks

In other news, CEO Nikesh Arora sold 227,414 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. The trade was a 41.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the completion of the sale, the executive vice president now owns 358,197 shares of the company’s stock, valued at $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 818,544 shares of company stock worth $147,132,028. 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.