Gerber Kawasaki Wealth & Investment Management Has $2.79 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Gerber Kawasaki Wealth & Investment Management grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 104.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,308 shares of the network technology company's stock after purchasing an additional 7,825 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in Palo Alto Networks were worth $2,785,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Transce3nd LLC purchased a new position in Palo Alto Networks in the 4th quarter valued at about $25,000. SJS Investment Consulting Inc. lifted its stake in shares of Palo Alto Networks by 97.2% during 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. Strategic Investment Solutions Inc. IL lifted its stake in shares of Palo Alto Networks by 64.0% during the fourth 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 during the period. Valued Wealth Advisors LLC lifted its stake in shares of Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after buying an additional 101 shares during the period. Finally, Abound Wealth Management lifted its stake in shares of Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 72 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded up $0.28 during mid-day trading on Wednesday, reaching $186.93. The company had a trading volume of 5,904,391 shares, compared to its average volume of 5,810,636. Palo Alto Networks, Inc. has a twelve month low of $142.00 and a twelve month high of $208.39. The stock has a market capitalization of $123.77 billion, a PE ratio of 105.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. The stock's 50 day moving average is $176.14 and its 200-day moving average is $184.70.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on PANW shares. BTIG Research downgraded shares of Palo Alto Networks from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 8th. Stephens assumed coverage on shares of Palo Alto Networks in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $205.00 price target for the company. Jefferies Financial Group dropped their price target on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Citigroup increased 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 report on Tuesday, February 25th. Finally, Evercore ISI dropped their price objective on shares of Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating for the company in a research report on Tuesday, December 31st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $203.06.

Insiders Place Their Bets

In other news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. The trade was a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares of the company's stock, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,039,318 shares of company stock valued at $181,925,602 over the last three months. 2.50% of the stock is currently owned by insiders.

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.