Centurion Wealth Management LLC Has $225,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Centurion Wealth Management LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,236 shares of the network technology company’s stock after buying an additional 618 shares during the quarter. Centurion Wealth Management LLC’s holdings in Palo Alto Networks were worth $225,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PANW. Swedbank AB raised its stake in Palo Alto Networks by 19.7% during the 3rd quarter. Swedbank AB now owns 786,574 shares of the network technology company’s stock valued at $268,851,000 after purchasing an additional 129,371 shares during the last quarter. Howard Capital Management Group LLC raised its position in shares of Palo Alto Networks by 1.5% during the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock valued at $36,316,000 after buying an additional 1,619 shares during the last quarter. United Bank lifted its stake in shares of Palo Alto Networks by 1.3% in the third quarter. United Bank now owns 6,835 shares of the network technology company’s stock valued at $2,336,000 after buying an additional 90 shares during the period. GSA Capital Partners LLP acquired a new stake in Palo Alto Networks during the third quarter worth about $231,000. Finally, KCM Investment Advisors LLC increased its stake in Palo Alto Networks by 65.3% during the third quarter. KCM Investment Advisors LLC now owns 975 shares of the network technology company’s stock valued at $333,000 after acquiring an additional 385 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Trading Up 3.4 %

Shares of NASDAQ PANW opened at $182.34 on Monday. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39. The stock has a 50 day moving average of $185.63 and a 200-day moving average of $184.93. The company has a market capitalization of $120.73 billion, a P/E ratio of 102.73, a P/E/G ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating 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%. Analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PANW. JMP Securities raised their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a research note on Monday, February 10th. Piper Sandler increased their price objective on shares of Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Barclays decreased their target price on shares of Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Westpark Capital reissued a “hold” rating and issued a $196.40 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.06.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 99,707 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares in the company, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock valued at $204,315,811 in the last three months. 2.50% of the stock is currently owned by company 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.