Peak Retirement Planning Inc. Invests $930,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Peak Retirement Planning Inc. bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,117 shares of the network technology company's stock, valued at approximately $930,000.

Other hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. raised its stake 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 valued at $25,000 after buying an additional 69 shares during the period. Transce3nd LLC purchased a new position in shares of Palo Alto Networks during the fourth quarter worth about $25,000. Valued Wealth Advisors LLC increased its position in shares of Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after purchasing an additional 101 shares during the last quarter. Strategic Investment Solutions Inc. IL raised 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 buying an additional 55 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC raised its position in Palo Alto Networks by 265.0% during 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 purchasing an additional 106 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company's 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 sale, the executive vice president now directly owns 293,010 shares in the company, valued at $55,458,002.70. This represents a 29.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares of the company's stock, valued at $54,854,038.83. This trade represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 568,962 shares of company stock worth $96,933,690 in the last three months. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

PANW has been the topic of a number of recent research reports. UBS Group increased their price target on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. JMP Securities raised their price target on Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a research note on Friday, February 14th. Roth Capital assumed coverage on Palo Alto Networks in a research report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 target price for the company. Wells Fargo & Company raised their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Finally, Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $206.40.

Palo Alto Networks Stock Performance

Shares of PANW traded up $0.71 during midday trading on Tuesday, hitting $187.46. 5,321,823 shares of the company traded hands, compared to its average volume of 5,611,755. The stock has a market cap of $125.00 billion, a price-to-earnings ratio of 105.61, a PEG ratio of 5.64 and a beta of 1.02. The firm has a 50 day moving average of $178.09 and a 200-day moving average of $185.18. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39.

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

About Palo Alto Networks

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.