Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Evercore Wealth Management LLC

Evercore Wealth Management LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 148.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,888 shares of the network technology company's stock after acquiring an additional 2,324 shares during the quarter. Evercore Wealth Management LLC's holdings in Palo Alto Networks were worth $707,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SJS Investment Consulting Inc. boosted its position in Palo Alto Networks by 97.2% during the 4th 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 bought a new stake in Palo Alto Networks in the fourth quarter worth $25,000. Valued Wealth Advisors LLC increased its stake in Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after purchasing an additional 101 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its position 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 acquiring an additional 55 shares in the last quarter. Finally, Abound Wealth Management raised its stake in shares of Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 72 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks 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 transaction, the executive vice president now owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. This represents a 2.74 % 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 insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PANW shares. Morgan Stanley lowered their price objective on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Truist Financial decreased their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Westpark Capital reiterated a "hold" rating and set a $196.40 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Jefferies Financial Group cut their price objective on 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. Finally, Evercore ISI decreased their price target on shares of Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating on the stock in a research note on Tuesday, December 31st. Two equities research 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $203.06.

Palo Alto Networks Stock Performance

PANW stock traded up $0.49 during trading on Monday, reaching $179.47. The company had a trading volume of 1,377,211 shares, compared to its average volume of 5,806,596. The company has a market cap of $118.82 billion, a price-to-earnings ratio of 101.13, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a twelve month low of $142.00 and a twelve month high of $208.39. The firm has a 50-day simple moving average of $176.86 and a 200-day simple moving average of $184.72.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current 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.