Elk River Wealth Management LLC Acquires 26,274 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Elk River Wealth Management LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,493 shares of the network technology company’s stock after buying an additional 26,274 shares during the quarter. Palo Alto Networks accounts for about 1.7% of Elk River Wealth Management LLC’s holdings, making the stock its 15th biggest holding. Elk River Wealth Management LLC’s holdings in Palo Alto Networks were worth $9,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PANW. SJS Investment Consulting Inc. lifted its position in shares of 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 last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares during the last quarter. Valued Wealth Advisors LLC lifted its position in shares of 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 worth $26,000 after buying an additional 101 shares during the last quarter. Abound Wealth Management lifted its position 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 worth $27,000 after buying an additional 72 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in shares of 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 worth $27,000 after buying an additional 106 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 336,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the transaction, the executive vice president now owns 3,643,516 shares of the company’s stock, valued at approximately $705,730,831.62. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,458,864 shares of company stock worth $269,397,331 over the last ninety days. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Down 1.5 %

Shares of Palo Alto Networks stock opened at $205.19 on Thursday. The firm has a market capitalization of $134.65 billion, a P/E ratio of 115.60, a price-to-earnings-growth ratio of 5.70 and a beta of 1.14. The business’s fifty day simple moving average is $187.11 and its 200 day simple moving average is $182.68. Palo Alto Networks, Inc. has a 12 month low of $130.04 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Analysts predict that Palo Alto Networks, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Rosenblatt Securities increased their target price on Palo Alto Networks from $212.50 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $190.00 target price (down from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. UBS Group increased their target price 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. Finally, Needham & Company LLC increased their target price on Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.70.

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.