Bridgewealth Advisory Group LLC Invests $209,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bridgewealth Advisory Group LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,036 shares of the network technology company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its position in shares of 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 purchasing an additional 69 shares in the last quarter. Transce3nd LLC purchased a new position in Palo Alto Networks during the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC increased its position in shares of 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 valued at $26,000 after buying an additional 101 shares during the period. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Palo Alto Networks by 64.0% in 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 in the last quarter. Finally, Abound Wealth Management boosted its position in shares of 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 acquiring an additional 72 shares during the period. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 700 shares of the 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 transaction, the chief accounting officer now owns 47,976 shares in the company, valued at $8,694,210.72. This represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 99,707 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following 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 have sold 1,039,318 shares of company stock worth $181,925,602. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $186.65 on Wednesday. The firm has a market cap of $123.58 billion, a P/E ratio of 105.16, a P/E/G ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $208.39. The firm has a 50-day simple moving average of $176.14 and a two-hundred day simple moving average of $184.70.

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

Wall Street Analyst Weigh In

Several brokerages have commented on PANW. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Citigroup lifted their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Hsbc Global Res upgraded Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $190.00 price target (down previously from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Finally, JMP Securities boosted their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $203.06.

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.