Wealth Alliance Purchases 3,928 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Wealth Alliance boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 85.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,502 shares of the network technology company’s stock after purchasing an additional 3,928 shares during the period. Wealth Alliance’s holdings in Palo Alto Networks were worth $1,547,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its stake in shares of Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after buying an additional 69 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares during the last quarter. Valued Wealth Advisors LLC boosted its stake in shares of Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after buying an additional 101 shares during the last quarter. Abound Wealth Management boosted its stake in shares of Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 72 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 106 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Loop Capital reduced their price objective on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Piper Sandler increased their price objective on shares of Palo Alto Networks from $165.00 to $192.50 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Barclays cut their target price on shares of Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Stifel Nicolaus raised their target price on shares of Palo Alto Networks from $192.50 to $220.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, JMP Securities raised their target price on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $202.70.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $205.19 on Thursday. Palo Alto Networks, Inc. has a fifty-two week low of $130.04 and a fifty-two week high of $208.39. The firm has a market capitalization of $135.86 billion, a P/E ratio of 115.60, a P/E/G ratio of 5.96 and a beta of 1.14. The company’s 50 day moving average price is $187.11 and its two-hundred day moving average price is $182.68.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating 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 firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. On average, analysts expect that Palo Alto Networks, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction on 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 transaction, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. The trade was a 24.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 336,000 shares of Palo Alto Networks stock in a transaction on Monday, November 25th. The stock was sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the transaction, the executive vice president now owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This trade represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,458,864 shares of company stock worth $269,397,331 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

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.