Allworth Financial LP Purchases 4,183 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Allworth Financial LP raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 108.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 8,050 shares of the network technology company’s stock after acquiring an additional 4,183 shares during the period. Allworth Financial LP’s holdings in Palo Alto Networks were worth $1,511,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. grew its position in 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 valued at $25,000 after purchasing an additional 69 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares in the last quarter. Valued Wealth Advisors LLC grew its holdings 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 last quarter. Abound Wealth Management increased its position 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 acquiring an additional 72 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 4.1 %

PANW stock opened at $208.28 on Wednesday. The stock has a 50-day simple moving average of $186.84 and a two-hundred day simple moving average of $182.29. Palo Alto Networks, Inc. has a twelve month low of $130.04 and a twelve month high of $208.35. The firm has a market capitalization of $136.67 billion, a PE ratio of 54.24, a PEG ratio of 5.36 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PANW. Hsbc Global Res downgraded Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 22nd. JMP Securities lifted their target price on Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on shares of Palo Alto Networks from $208.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Morgan Stanley upped their target price on shares of Palo Alto Networks from $223.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $202.70.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the transaction, the executive vice president now directly owns 358,197 shares in the company, valued at $65,353,042.65. This represents a 21.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value 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 trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,458,864 shares of company stock valued at $269,397,331. 2.50% of the stock is currently owned by company insiders.

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.