3,010 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by Uniting Wealth Partners LLC

Uniting Wealth Partners LLC bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,010 shares of the network technology company’s stock, valued at approximately $548,000.

Several other large investors also recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new position in Palo Alto Networks during the third quarter valued at $29,000. SJS Investment Consulting Inc. increased its holdings 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 worth $25,000 after acquiring an additional 69 shares during the last quarter. Valued Wealth Advisors LLC raised its stake in Palo Alto Networks by 246.3% in the 4th 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 lifted its holdings in Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC boosted its position in Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 176,242 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $195,596,176.16. This trade represents a 13.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the company’s stock in a transaction that occurred on 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. This represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,122,864 shares of company stock valued at $204,315,811 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on PANW shares. Guggenheim lowered shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Monday, January 6th. UBS Group lifted their price target on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Rosenblatt Securities reissued a “buy” rating and set a $235.00 price objective on shares of Palo Alto Networks in a report on Monday. 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 report on Friday, February 14th. Finally, Jefferies Financial Group lowered their price target on shares of Palo Alto Networks from $240.00 to $215.00 and set a “buy” rating on the stock in a report on Monday. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $204.27.

Palo Alto Networks Trading Up 1.1 %

Shares of PANW stock opened at $173.18 on Thursday. The company’s fifty day moving average price is $186.72 and its 200-day moving average price is $185.38. The stock has a market cap of $114.66 billion, a PE ratio of 97.57, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data 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. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share 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.