Fiduciary Group LLC Has $15.09 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fiduciary Group LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 97.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,933 shares of the network technology company’s stock after acquiring an additional 40,933 shares during the quarter. Palo Alto Networks accounts for about 1.5% of Fiduciary Group LLC’s holdings, making the stock its 14th largest position. Fiduciary Group LLC’s holdings in Palo Alto Networks were worth $15,091,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PANW. SJS Investment Consulting Inc. grew its position in 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 valued at $25,000 after purchasing an additional 69 shares in the last quarter. Valued Wealth Advisors LLC grew its position 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 valued at $26,000 after purchasing an additional 101 shares in the last quarter. Abound Wealth Management grew its position in Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 235,492 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at $199,159,581.28. This trade represents a 17.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the 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 in the company, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock worth $204,315,811 in the last quarter. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $187.54 on Thursday. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The stock has a market cap of $124.17 billion, a price-to-earnings ratio of 105.66, a P/E/G ratio of 5.64 and a beta of 1.04. The firm has a fifty day moving average of $186.18 and a 200-day moving average of $185.00.

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

Analyst Upgrades and Downgrades

PANW has been the topic of a number of research analyst reports. Hsbc Global Res downgraded shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $190.00 target price (down from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Jefferies Financial Group boosted their target price on shares of Palo Alto Networks from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Northland Securities reissued a “market perform” rating and issued a $185.00 target price (up from $175.00) on shares of Palo Alto Networks in a research report on Thursday, November 21st. Finally, BTIG Research downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $205.06.

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.