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

Allworth Financial LP grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 108.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Palo Alto Networks by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock worth $2,609,486,000 after purchasing an additional 220,900 shares during the last quarter. Jennison Associates LLC increased its position in Palo Alto Networks by 83.0% during the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after buying an additional 2,612,474 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Palo Alto Networks by 34,318.2% during the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after buying an additional 3,249,594 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Palo Alto Networks by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,005,161 shares of the network technology company’s stock valued at $685,364,000 after acquiring an additional 31,595 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Palo Alto Networks by 199.1% in the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock valued at $333,925,000 after acquiring an additional 1,213,073 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Rosenblatt Securities boosted their price objective on shares of Palo Alto Networks from $212.50 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a research note on Monday, February 10th. Robert W. Baird lifted their price objective on Palo Alto Networks from $212.50 to $217.50 and gave the company an “outperform” rating in a report on Thursday, November 21st. BTIG Research downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Finally, UBS Group raised their price target on Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $202.70.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 176,242 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $180.04, for a total value of $31,730,609.68. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at approximately $195,596,176.16. The trade was a 13.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 336,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the transaction, the executive vice president now owns 3,643,516 shares in the company, valued at $705,730,831.62. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,458,864 shares of company stock worth $269,397,331. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Up 4.1 %

Shares of PANW opened at $208.28 on Wednesday. The stock’s 50-day moving average price is $186.84 and its two-hundred day moving average price is $182.29. Palo Alto Networks, Inc. has a 12 month low of $130.04 and a 12 month high of $208.35. The company 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 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 23.36% and a net margin of 32.99%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Equities research analysts predict that Palo Alto Networks, Inc. will post 1.74 EPS for the current fiscal year.

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.