Elite Wealth Management Inc. Acquires 674 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Elite Wealth Management Inc. boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,346 shares of the network technology company’s stock after purchasing an additional 674 shares during the period. Elite Wealth Management Inc.’s holdings in Palo Alto Networks were worth $245,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Tradewinds LLC. raised its stake in shares of Palo Alto Networks by 1.2% in the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock valued at $791,000 after buying an additional 28 shares during the period. Cromwell Holdings LLC grew its position in Palo Alto Networks by 3.0% during the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after buying an additional 30 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in Palo Alto Networks by 9.4% during the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after buying an additional 30 shares in the last quarter. Geneva Partners LLC boosted its holdings in shares of Palo Alto Networks by 0.3% in the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after purchasing an additional 30 shares in the last quarter. Finally, Klingman & Associates LLC boosted its holdings in shares of Palo Alto Networks by 4.2% in the 3rd quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock worth $256,000 after purchasing an additional 30 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PANW shares. KeyCorp upped their price objective on Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Stifel Nicolaus upped their price objective on Palo Alto Networks from $192.50 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. StockNews.com cut Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Finally, Evercore ISI cut their price objective on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a report on Tuesday, December 31st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.69.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares of the company’s stock, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,458,864 shares of company stock worth $269,397,331. 2.50% of the stock is owned by insiders.

Palo Alto Networks Stock Down 3.9 %

PANW opened at $191.03 on Friday. The stock has a market cap of $126.48 billion, a PE ratio of 107.62, a PEG ratio of 5.82 and a beta of 1.14. The business has a 50 day moving average of $187.20 and a 200-day moving average of $182.95. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 21.93% and a net margin of 14.64%. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current 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.