Forvis Mazars Wealth Advisors LLC Acquires 624 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Forvis Mazars Wealth Advisors LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,248 shares of the network technology company’s stock after acquiring an additional 624 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $227,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PANW. Swedbank AB lifted its stake in shares of Palo Alto Networks by 19.7% during the 3rd quarter. Swedbank AB now owns 786,574 shares of the network technology company’s stock worth $268,851,000 after acquiring an additional 129,371 shares during the last quarter. Howard Capital Management Group LLC lifted its position in shares of Palo Alto Networks by 1.5% during the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock worth $36,316,000 after purchasing an additional 1,619 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in shares of Palo Alto Networks during the third quarter valued at $224,000. Allworth Financial LP grew its holdings in shares of Palo Alto Networks by 3.5% in the third quarter. Allworth Financial LP now owns 3,867 shares of the network technology company’s stock worth $1,322,000 after purchasing an additional 130 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its stake in Palo Alto Networks by 44.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 2,850 shares of the network technology company’s stock worth $974,000 after buying an additional 871 shares during the period. 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 176,242 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $195,596,176.16. The trade was a 13.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $190.39 on Tuesday. The business’s 50-day moving average is $186.85 and its 200 day moving average is $183.92. The firm has a market capitalization of $126.06 billion, a P/E ratio of 107.26, a P/E/G ratio of 5.64 and a beta of 1.14. Palo Alto Networks, Inc. has a 1 year low of $132.50 and a 1 year high of $208.39.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Palo Alto Networks from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Evercore ISI lowered their price target 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. Bank of America raised their price objective on Palo Alto Networks from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Needham & Company LLC lifted their target price on Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, KeyCorp lifted their target price on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $204.69.

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.