Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Boosted by Paragon Private Wealth Management LLC

Paragon Private Wealth Management LLC raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 132.9% during the 4th quarter, HoldingsChannel reports. The fund owned 3,202 shares of the network technology company’s stock after purchasing an additional 1,827 shares during the period. Paragon Private Wealth Management LLC’s holdings in Palo Alto Networks were worth $583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PANW. SJS Investment Consulting Inc. grew its stake in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 69 shares in the last quarter. Valued Wealth Advisors LLC grew its stake in Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 101 shares in the last quarter. Abound Wealth Management grew its stake in Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its stake in Palo Alto Networks by 265.0% during 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 in the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in Palo Alto Networks by 102.6% during 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 in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the sale, the executive vice president now directly owns 365,856 shares in the company, valued at approximately $65,744,323.20. This trade represents a 24.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the sale, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,122,864 shares of company stock worth $204,315,811 over the last three months. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $190.00 target price (down previously from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Evercore ISI reduced their price target on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a report on Tuesday, December 31st. Oppenheimer reiterated an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a report on Thursday, November 21st. Westpark Capital reiterated a “hold” rating and set a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Finally, KeyCorp lifted their price target on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $180.93 on Monday. The business’s fifty day moving average price is $186.05 and its two-hundred day moving average price is $184.81. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39. The stock has a market capitalization of $119.79 billion, a price-to-earnings ratio of 101.93, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.

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, 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 firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.