Atria Investments Inc Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Atria Investments Inc increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 98.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,312 shares of the network technology company’s stock after purchasing an additional 29,932 shares during the period. Atria Investments Inc’s holdings in Palo Alto Networks were worth $10,974,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Tradewinds LLC. lifted its holdings in Palo Alto Networks by 1.2% in the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after purchasing an additional 28 shares in the last quarter. Klingman & Associates LLC lifted its holdings in Palo Alto Networks by 4.2% in the 3rd quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock worth $256,000 after purchasing an additional 30 shares in the last quarter. Carr Financial Group Corp lifted its holdings in Palo Alto Networks by 4.4% in the 3rd quarter. Carr Financial Group Corp now owns 715 shares of the network technology company’s stock worth $244,000 after purchasing an additional 30 shares in the last quarter. First Dallas Securities Inc. lifted its holdings in Palo Alto Networks by 1.4% in the 3rd quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock worth $728,000 after purchasing an additional 30 shares in the last quarter. Finally, Opinicus Capital Inc. lifted its holdings in Palo Alto Networks by 1.5% in the 3rd quarter. Opinicus Capital Inc. now owns 2,138 shares of the network technology company’s stock worth $731,000 after purchasing an additional 31 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Down 0.1 %

PANW opened at $184.28 on Thursday. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The business’s fifty day simple moving average is $186.34 and its 200-day simple moving average is $184.74. The company has a market capitalization of $122.01 billion, a price-to-earnings ratio of 103.82, a PEG ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

PANW has been the topic of several recent research reports. JMP Securities upped 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. OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a report on Thursday, November 7th. Wells Fargo & Company upped their price objective on Palo Alto Networks from $208.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. TD Cowen upped their price objective on Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Northland Securities reaffirmed a “market perform” rating and set a $185.00 price objective (up from $175.00) on shares of Palo Alto Networks in a report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.06.

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly 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 SEC, which is available through this link. Also, CEO Nikesh Arora sold 490,723 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock worth $204,315,811 in the last three months. 2.50% of the stock is owned by insiders.

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.