Strait & Sound Wealth Management LLC Has $812,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Strait & Sound Wealth Management LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 102.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,460 shares of the network technology company's stock after acquiring an additional 2,261 shares during the period. Strait & Sound Wealth Management LLC's holdings in Palo Alto Networks were worth $812,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Grassi Investment Management grew its stake in shares of Palo Alto Networks by 161.1% in the fourth quarter. Grassi Investment Management now owns 7,910 shares of the network technology company's stock valued at $1,439,000 after acquiring an additional 4,880 shares in the last quarter. Pure Financial Advisors LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $214,000. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Palo Alto Networks by 83.5% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 4,458 shares of the network technology company's stock worth $811,000 after purchasing an additional 2,029 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Palo Alto Networks by 92.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 127,483 shares of the network technology company's stock worth $23,197,000 after purchasing an additional 61,266 shares during the period. Finally, XML Financial LLC boosted its stake in shares of Palo Alto Networks by 129.4% in the fourth quarter. XML Financial LLC now owns 1,562 shares of the network technology company's stock valued at $284,000 after buying an additional 881 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Price Performance

Shares of PANW traded up $1.27 during trading hours on Wednesday, hitting $188.73. 1,733,833 shares of the stock were exchanged, compared to its average volume of 5,596,672. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The business has a 50-day moving average of $178.16 and a 200-day moving average of $185.20. The firm has a market capitalization of $125.84 billion, a P/E ratio of 106.34, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02.

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

Analyst Ratings Changes

A number of equities analysts have commented on PANW shares. TD Securities restated a "buy" rating and set a $230.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Jefferies Financial Group increased their target price on Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Northland Securities dropped their price target on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research note on Wednesday, May 21st. Roth Capital began coverage on shares of Palo Alto Networks in a research note on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective on the stock. Finally, Rosenblatt Securities restated a "buy" rating and issued a $235.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $206.40.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the transaction, the executive vice president now directly owns 293,010 shares in the company, valued at approximately $55,458,002.70. This represents a 29.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction on 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. This represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 568,962 shares of company stock valued at $96,933,690 over the last 90 days. Company insiders own 2.50% of the company's stock.

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.