Wealthedge Investment Advisors LLC Acquires New Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Wealthedge Investment Advisors LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,055 shares of the network technology company's stock, valued at approximately $1,102,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Transce3nd LLC bought a new stake in Palo Alto Networks in the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL boosted its holdings in Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings in Palo Alto Networks by 265.0% in the fourth 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 during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Palo Alto Networks by 102.6% in the fourth 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 during the last quarter. Finally, Anchor Investment Management LLC boosted its holdings in Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 78 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PANW has been the topic of several analyst reports. Westpark Capital reiterated a "hold" rating and issued a $196.40 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $223.00 price target on shares of Palo Alto Networks in a research note on Monday, May 19th. JMP Securities boosted their price target on Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Finally, Susquehanna boosted their price target on Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Stock Up 2.7%

PANW traded up $4.96 during trading on Friday, reaching $190.78. 11,416,203 shares of the company were exchanged, compared to its average volume of 5,559,007. The company's 50-day moving average is $178.31 and its two-hundred day moving average is $184.87. The company has a market cap of $127.21 billion, a price-to-earnings ratio of 107.48, a P/E/G ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 EPS. Equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $189.27, for a total value of $22,858,894.98. Following the sale, the executive vice president now owns 293,010 shares of the company's stock, valued at $55,458,002.70. This trade represents a 29.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 568,962 shares of company stock valued at $96,933,690. 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.