Fiera Capital Corp Boosts Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fiera Capital Corp lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,576 shares of the network technology company’s stock after acquiring an additional 181 shares during the period. Fiera Capital Corp’s holdings in Palo Alto Networks were worth $1,644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PANW. Beacon Pointe Advisors LLC raised its holdings in Palo Alto Networks by 31.4% in the 4th quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after buying an additional 26,767 shares during the period. Quadrant Capital Group LLC raised its holdings in Palo Alto Networks by 10.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,424 shares of the network technology company’s stock valued at $715,000 after buying an additional 226 shares during the period. Baader Bank Aktiengesellschaft raised its holdings in Palo Alto Networks by 25.0% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 7,197 shares of the network technology company’s stock valued at $2,103,000 after buying an additional 1,440 shares during the period. Foundations Investment Advisors LLC raised its holdings in Palo Alto Networks by 44.2% in the 4th quarter. Foundations Investment Advisors LLC now owns 13,910 shares of the network technology company’s stock valued at $4,102,000 after buying an additional 4,262 shares during the period. Finally, Facet Wealth Inc. purchased a new stake in Palo Alto Networks in the 4th quarter valued at about $273,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their price target on shares of Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price target on shares of Palo Alto Networks in a research note on Wednesday, April 17th. Finally, Wedbush boosted their price target on shares of Palo Alto Networks from $350.00 to $425.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $316.85.

Palo Alto Networks Trading Up 0.3 %

PANW stock opened at $317.85 on Friday. The company has a market capitalization of $102.70 billion, a P/E ratio of 49.66, a PEG ratio of 4.31 and a beta of 1.18. Palo Alto Networks, Inc. has a twelve month low of $186.75 and a twelve month high of $380.84. The business has a 50 day simple moving average of $287.39 and a 200-day simple moving average of $297.25.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Research analysts predict that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, President William D. Jenkins, Jr. sold 1,867 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the transaction, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold 280,193 shares of company stock worth $80,670,132 over the last 90 days. 3.30% of the stock is currently owned by insiders.

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.