Founders Financial Alliance LLC Has $235,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Founders Financial Alliance LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,294 shares of the network technology company’s stock after buying an additional 647 shares during the quarter. Founders Financial Alliance LLC’s holdings in Palo Alto Networks were worth $235,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. grew its stake in shares of Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after purchasing an additional 69 shares during the period. Valued Wealth Advisors LLC boosted its holdings in Palo Alto Networks by 246.3% during the fourth 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 grew its position 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 period. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its position in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 79 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BTIG Research cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Truist Financial boosted their price target on shares of Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a report on Monday, November 18th. Susquehanna raised their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a research note on Tuesday, February 18th. Citigroup lifted their target price on Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Oppenheimer restated an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $178.93 on Wednesday. The company’s 50-day moving average is $185.78 and its 200-day moving average is $184.83. The firm has a market capitalization of $118.47 billion, a PE ratio of 100.81, a P/E/G ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39.

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

Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 176,242 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $180.04, for a total value of $31,730,609.68. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $195,596,176.16. This represents a 13.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the sale, the executive vice president now directly 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. In the last quarter, insiders have sold 1,122,864 shares of company stock worth $204,315,811. Company insiders own 2.50% of the company’s stock.

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.