EPG Wealth Management LLC Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

EPG Wealth Management LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 85.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,730 shares of the network technology company's stock after buying an additional 5,880 shares during the quarter. EPG Wealth Management LLC's holdings in Palo Alto Networks were worth $2,316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWA Asset Management Group LLC increased its holdings in shares of Palo Alto Networks by 241.2% in the 4th quarter. CWA Asset Management Group LLC now owns 6,714 shares of the network technology company's stock worth $1,222,000 after purchasing an additional 4,746 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its position in shares of Palo Alto Networks by 99.8% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 4,103 shares of the network technology company's stock valued at $747,000 after buying an additional 2,049 shares in the last quarter. Bangor Savings Bank boosted its position in shares of Palo Alto Networks by 100.0% in the fourth quarter. Bangor Savings Bank now owns 9,318 shares of the network technology company's stock worth $1,696,000 after purchasing an additional 4,659 shares during the period. Diversified Trust Co boosted its holdings in Palo Alto Networks by 258.7% in the 4th quarter. Diversified Trust Co now owns 16,359 shares of the network technology company's stock worth $2,977,000 after buying an additional 11,798 shares during the period. Finally, Rise Advisors LLC grew its position in shares of Palo Alto Networks by 88.7% during the fourth quarter. Rise Advisors LLC now owns 749 shares of the network technology company's stock worth $136,000 after purchasing an additional 352 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

Insider Activity at Palo Alto Networks

In other news, 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 $586,132,981.56. The trade was a 2.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nikesh Arora sold 227,414 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the transaction, the chief executive officer now directly owns 317,571 shares in the company, valued at $54,854,038.83. This represents a 41.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 568,962 shares of company stock worth $96,933,690 in the last 90 days. Corporate insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PANW shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $225.00 target price on shares of Palo Alto Networks in a research note on Monday, February 10th. Westpark Capital restated a "hold" rating and set a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Citigroup raised their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Jefferies Financial Group lowered 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 research note on Monday, March 31st. Finally, Truist Financial dropped their price objective on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Palo Alto Networks has an average rating of "Moderate Buy" and an average price target of $203.06.

Palo Alto Networks Stock Down 0.8 %

Shares of NASDAQ PANW traded down $1.60 during midday trading on Friday, reaching $186.93. 3,209,190 shares of the stock were exchanged, compared to its average volume of 5,728,128. The firm has a market cap of $123.77 billion, a price-to-earnings ratio of 105.31, a PEG ratio of 5.64 and a beta of 1.02. The firm has a 50-day simple moving average of $176.07 and a two-hundred day simple moving average of $184.72. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.