5T Wealth LLC Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

5T Wealth LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 3,658 shares of the network technology company’s stock, valued at approximately $666,000.

Several other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of 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 boosted its position in shares of Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after acquiring an additional 2,612,474 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Palo Alto Networks by 34,318.2% in 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 acquiring an additional 3,249,594 shares during 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 worth $685,364,000 after acquiring an additional 31,595 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position 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 worth $333,925,000 after acquiring an additional 1,213,073 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Westpark Capital reissued a “hold” rating and issued a $196.40 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Hsbc Global Res cut shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 22nd. UBS Group raised their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Loop Capital reduced 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 research report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $202.70.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the sale, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the business’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 sale, the executive vice president now owns 365,856 shares in the company, 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. Over the last three months, insiders have sold 1,458,864 shares of company stock worth $269,397,331. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Up 4.1 %

PANW stock opened at $208.28 on Wednesday. The company has a market capitalization of $136.67 billion, a P/E ratio of 54.24, a PEG ratio of 5.36 and a beta of 1.14. The company has a 50-day simple moving average of $186.84 and a 200 day simple moving average of $182.29. Palo Alto Networks, Inc. has a fifty-two week low of $130.04 and a fifty-two week high of $208.35.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.74 EPS for the current year.

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.