Goodman Advisory Group LLC Invests $2.63 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

Goodman Advisory Group LLC acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 14,468 shares of the network technology company’s stock, valued at approximately $2,633,000.

Several other large investors have also modified their holdings of PANW. SJS Investment Consulting Inc. lifted its stake in shares of Palo Alto Networks by 97.2% during 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 period. Valued Wealth Advisors LLC increased its stake 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 purchasing an additional 101 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after buying an additional 55 shares during the period. Abound Wealth Management grew its holdings in Palo Alto Networks by 97.3% in the 4th 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 period. Finally, Atlantic Edge Private Wealth Management LLC increased its stake in shares of Palo Alto Networks by 265.0% during the 4th 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. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 1.2 %

Shares of NASDAQ:PANW opened at $167.69 on Friday. The firm’s 50 day moving average is $180.61 and its two-hundred day moving average is $184.71. The firm has a market capitalization of $111.03 billion, a P/E ratio of 94.47, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 52 week low of $137.60 and a 52 week high of $208.39.

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

Insider Activity

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares of the company’s stock, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the sale, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,039,318 shares of company stock valued at $181,925,602 over the last three months. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PANW shares. UBS Group boosted their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Susquehanna boosted their price objective on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a research note on Tuesday, February 18th. Evercore ISI cut their target price on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $190.00 price objective (down from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Finally, Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.06.

About Palo Alto Networks

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.