BIP Wealth LLC Acquires 1,393 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

BIP Wealth LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 101.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,761 shares of the network technology company's stock after purchasing an additional 1,393 shares during the quarter. BIP Wealth LLC's holdings in Palo Alto Networks were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. grew its holdings in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after acquiring an additional 69 shares during the period. Transce3nd LLC purchased a new position in Palo Alto Networks in the fourth quarter worth about $25,000. Valued Wealth Advisors LLC grew its stake 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 valued at $26,000 after purchasing an additional 101 shares during the period. Strategic Investment Solutions Inc. IL increased its position in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Finally, Abound Wealth Management lifted its stake in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 72 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 0.8 %

Shares of Palo Alto Networks stock opened at $187.70 on Monday. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The company has a market capitalization of $124.28 billion, a PE ratio of 105.75, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. The stock's fifty day moving average is $175.97 and its two-hundred day moving average is $184.68.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on PANW. Jefferies Financial Group reduced their target price on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating for the company in a report on Monday, March 31st. Morgan Stanley lowered their target price on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Westpark Capital reaffirmed a "hold" rating and set a $196.40 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $203.06.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at $48,629,704.62. This represents a 27.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the sale, the executive vice president now owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. This represents a 2.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 448,188 shares of company stock worth $74,074,795. Company 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.

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