1,341 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by Fortis Capital Management LLC

Fortis Capital Management LLC bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,341 shares of the network technology company’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Palo Alto Networks during the third quarter worth about $29,000. True Wealth Design LLC lifted its holdings in shares of Palo Alto Networks by 2,933.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock worth $31,000 after purchasing an additional 88 shares during the period. SJS Investment Consulting Inc. lifted its holdings 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 lifted its holdings in shares of 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 purchasing an additional 101 shares during the period. Finally, Abound Wealth Management lifted its holdings in shares of Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the subject of several recent research reports. Guggenheim cut Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Monday, January 6th. StockNews.com cut Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Scotiabank lifted their price target on Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $190.00 price objective (down from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Finally, Susquehanna boosted their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $205.06.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $182.32 on Friday. The stock’s 50-day moving average is $186.59 and its two-hundred day moving average is $185.05. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39. The company has a market cap of $120.71 billion, a price-to-earnings ratio of 102.72, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data 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. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Nikesh Arora sold 490,723 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 value of $89,532,411.35. Following the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This represents a 31.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 120,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of 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 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 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.