Avantax Advisory Services Inc. Boosts Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Avantax Advisory Services Inc. raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 113.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,640 shares of the network technology company’s stock after purchasing an additional 23,210 shares during the period. Avantax Advisory Services Inc.’s holdings in Palo Alto Networks were worth $7,941,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PANW. SJS Investment Consulting Inc. boosted 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 acquiring an additional 69 shares during the period. Valued Wealth Advisors LLC boosted its position in shares of 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 acquiring an additional 101 shares during the period. 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. Atlantic Edge Private Wealth Management LLC boosted its position 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 period. Finally, Capital Advisors Ltd. LLC boosted its position 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 period. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $176.32 on Friday. The firm’s 50-day moving average price is $185.65 and its 200-day moving average price is $184.73. The company has a market capitalization of $116.74 billion, a PE ratio of 99.34, a P/E/G ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its 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 firm had revenue of $2.26 billion for 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%. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on PANW shares. Cantor Fitzgerald restated an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Susquehanna lifted their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a research report on Tuesday, February 18th. Oppenheimer reiterated an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a research report on Thursday, November 21st. Scotiabank lifted their target price on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Finally, JMP Securities lifted their target price on shares of 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. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.06.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 490,723 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $89,532,411.35. Following the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. The trade was a 31.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the transaction, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. The trade was a 24.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,122,864 shares of company stock valued at $204,315,811 in the last three months. 2.50% of the stock is currently owned by company 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.