Prevail Innovative Wealth Advisors LLC Acquires 676 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Prevail Innovative Wealth Advisors LLC grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 45.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,152 shares of the network technology company’s stock after acquiring an additional 676 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Howard Capital Management Group LLC increased its holdings in 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 buying an additional 1,619 shares during the last quarter. United Bank grew its position in shares of Palo Alto Networks by 1.3% in the 3rd quarter. United Bank now owns 6,835 shares of the network technology company’s stock valued at $2,336,000 after acquiring an additional 90 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Palo Alto Networks by 13.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 14,134 shares of the network technology company’s stock worth $4,831,000 after purchasing an additional 1,700 shares during the last quarter. Plotkin Financial Advisors LLC bought a new stake in shares of Palo Alto Networks in the 3rd quarter valued at about $305,000. Finally, True Wealth Design LLC grew its holdings in 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. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 99,707 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 176,242 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $195,596,176.16. This trade represents a 13.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,122,864 shares of company stock worth $204,315,811. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW opened at $172.76 on Monday. The business has a 50-day moving average of $187.39 and a 200-day moving average of $185.49. The company has a market capitalization of $114.38 billion, a price-to-earnings ratio of 97.33, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. 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 issued 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 during the quarter, compared to the consensus estimate of $2.24 billion. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Jefferies Financial Group raised their price target on Palo Alto Networks from $225.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Westpark Capital reiterated a “hold” rating and issued a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Guggenheim cut shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Monday, January 6th. Finally, Rosenblatt Securities upped their price target on shares of Palo Alto Networks from $212.50 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $205.06.

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.