Prevail Innovative Wealth Advisors LLC Raises Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Prevail Innovative Wealth Advisors LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 45.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,152 shares of the network technology company’s stock after buying an additional 676 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $392,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. raised its stake in Palo Alto Networks by 94.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company’s stock valued at $2,122,000 after acquiring an additional 5,658 shares during the period. Knights of Columbus Asset Advisors LLC raised its position in shares of Palo Alto Networks by 108.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company’s stock valued at $3,886,000 after purchasing an additional 11,095 shares during the period. National Pension Service lifted its stake in shares of Palo Alto Networks by 82.1% during the 4th quarter. National Pension Service now owns 1,345,740 shares of the network technology company’s stock valued at $244,871,000 after buying an additional 606,778 shares in the last quarter. Mosley Wealth Management boosted its holdings in Palo Alto Networks by 116.2% in the 4th quarter. Mosley Wealth Management now owns 3,023 shares of the network technology company’s stock worth $561,000 after buying an additional 1,625 shares during the period. Finally, Blue Trust Inc. grew its stake in Palo Alto Networks by 31.7% in the 4th quarter. Blue Trust Inc. now owns 3,883 shares of the network technology company’s stock valued at $707,000 after buying an additional 934 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 1.0 %

Shares of Palo Alto Networks stock opened at $172.76 on Monday. The company’s fifty day simple moving average is $187.39 and its two-hundred day simple moving average is $185.49. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The company has a market cap of $114.38 billion, a P/E ratio of 97.33, a PEG ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last released 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. The company had revenue of $2.26 billion during 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%. Analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. BTIG Research downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. StockNews.com downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Loop Capital lowered their price target on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Susquehanna raised their price objective 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. Finally, Rosenblatt Securities upped their target price on shares of Palo Alto Networks from $212.50 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.06.

Insider Activity

In other Palo Alto Networks news, CEO Nikesh Arora sold 235,492 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $199,159,581.28. This trade represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 700 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. The trade was a 1.44 % 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 worth $204,315,811 in the last quarter. 2.50% of the stock is owned by company 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.