American Money Management LLC Has $1.15 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

American Money Management LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 86.6% during the 4th quarter, HoldingsChannel reports. The firm owned 6,300 shares of the network technology company’s stock after purchasing an additional 2,923 shares during the quarter. American Money Management LLC’s holdings in Palo Alto Networks were worth $1,146,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SJS Investment Consulting Inc. raised 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 worth $25,000 after buying an additional 69 shares during the period. Valued Wealth Advisors LLC raised its position 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. Abound Wealth Management lifted its holdings in shares of 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 purchasing an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in shares of Palo Alto Networks by 265.0% in 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 purchasing an additional 106 shares during the period. Finally, Capital Advisors Ltd. LLC increased 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 worth $28,000 after purchasing an additional 79 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

PANW has been the subject of several research analyst reports. Citigroup upped their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Guggenheim lowered 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. Jefferies Financial Group lifted their price target on Palo Alto Networks from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com cut Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Finally, Evercore ISI decreased their price objective 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. Three 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $205.06.

Palo Alto Networks Price Performance

PANW stock opened at $172.76 on Friday. The business’s fifty day moving average price is $187.39 and its two-hundred day moving average price is $185.39. The stock has a market capitalization of $114.38 billion, a price-to-earnings ratio of 97.33, a PEG ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released 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 net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction 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 represents a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the transaction, the executive vice president now directly owns 358,197 shares in the company, valued at $65,353,042.65. This trade represents a 21.77 % 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 ninety days. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks 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.