Prosperity Wealth Management Inc. Boosts Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Prosperity Wealth Management Inc. grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,250 shares of the network technology company’s stock after buying an additional 879 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Palo Alto Networks were worth $773,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Palo Alto Networks during the third quarter valued at approximately $29,000. True Wealth Design LLC grew its holdings in shares of Palo Alto Networks by 2,933.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after buying an additional 88 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Palo Alto Networks during the third quarter valued at approximately $32,000. Darwin Wealth Management LLC purchased a new stake in Palo Alto Networks in the third quarter worth approximately $39,000. Finally, SJS Investment Consulting Inc. boosted its holdings in 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 worth $25,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 490,723 shares of the business’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 completion of the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. The trade was a 31.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the sale, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. This trade represents a 24.70 % decrease in their ownership of the stock. 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 three months. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Up 2.9 %

PANW stock opened at $178.93 on Wednesday. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39. The company has a 50-day moving average price of $185.78 and a 200 day moving average price of $184.83. The stock has a market cap of $118.47 billion, a PE ratio of 100.81, a P/E/G ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

PANW has been the topic of several research reports. Barclays dropped their target price on shares of Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. BMO Capital Markets raised their target price on shares of Palo Alto Networks from $195.00 to $212.50 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Royal Bank of Canada restated an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Monday, February 10th. Westpark Capital reiterated a “hold” rating and set a $196.40 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $190.00 price target (down previously from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a sell rating, eleven have issued 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.06.

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.