IHT Wealth Management LLC Acquires 8,534 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

IHT Wealth Management LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 59.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,820 shares of the network technology company's stock after buying an additional 8,534 shares during the quarter. IHT Wealth Management LLC's holdings in Palo Alto Networks were worth $4,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PANW. Vanguard Group Inc. boosted its stake in shares of Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after purchasing an additional 31,281,359 shares during the period. Geode Capital Management LLC boosted its position in Palo Alto Networks by 87.8% during the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after buying an additional 6,725,148 shares during the period. Capital Research Global Investors grew its holdings in Palo Alto Networks by 83.8% in the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after acquiring an additional 3,841,359 shares during the last quarter. Jennison Associates LLC increased its position in shares of Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock valued at $1,048,033,000 after acquiring an additional 2,612,474 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Palo Alto Networks by 59.3% during the fourth quarter. Legal & General Group Plc now owns 5,552,888 shares of the network technology company's stock valued at $1,010,403,000 after acquiring an additional 2,067,838 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PANW. Rosenblatt Securities reissued a "buy" rating and issued a $235.00 target price on shares of Palo Alto Networks in a research note on Monday, March 31st. Royal Bank of Canada reissued an "outperform" rating and set a $225.00 target price on shares of Palo Alto Networks in a research note on Monday, February 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $223.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Loop Capital decreased their price objective on shares of Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. Finally, Jefferies Financial Group cut their target price on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $203.06.

Palo Alto Networks Price Performance

Shares of PANW traded up $2.94 on Friday, reaching $178.98. The company's stock had a trading volume of 3,534,449 shares, compared to its average volume of 5,818,611. Palo Alto Networks, Inc. has a 12-month low of $142.00 and a 12-month high of $208.39. The stock has a market capitalization of $118.50 billion, a P/E ratio of 100.83, a PEG ratio of 5.64 and a beta of 1.07. The stock's 50 day simple moving average is $176.86 and its two-hundred day simple moving average is $184.70.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion during 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%. Analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 358,197 shares of the company's stock, valued at $65,353,042.65. This represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,039,318 shares of company stock valued at $181,925,602. 2.50% of the stock is owned by corporate 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.