Independent Solutions Wealth Management LLC Buys 5,780 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Independent Solutions Wealth Management LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 104.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,314 shares of the network technology company’s stock after acquiring an additional 5,780 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Palo Alto Networks were worth $2,059,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PANW. AllSquare Wealth Management LLC raised its position in shares of Palo Alto Networks by 100.0% during the 4th quarter. AllSquare Wealth Management LLC now owns 1,600 shares of the network technology company’s stock valued at $291,000 after purchasing an additional 800 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Palo Alto Networks by 94.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company’s stock worth $2,122,000 after buying an additional 5,658 shares in the last quarter. Palogic Value Management L.P. raised its holdings in Palo Alto Networks by 100.0% during the fourth quarter. Palogic Value Management L.P. now owns 4,500 shares of the network technology company’s stock valued at $819,000 after acquiring an additional 2,250 shares during the period. Douglass Winthrop Advisors LLC bought a new stake in Palo Alto Networks during the fourth quarter valued at about $437,000. Finally, Whittier Trust Co. lifted its position in shares of Palo Alto Networks by 130.8% in the fourth quarter. Whittier Trust Co. now owns 15,094 shares of the network technology company’s stock valued at $2,746,000 after acquiring an additional 8,553 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 235,492 shares of Palo Alto Networks stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the 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 sale, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Guggenheim cut Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price for the company. in a research report on Monday, January 6th. Loop Capital cut 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. Morgan Stanley started coverage on shares of Palo Alto Networks in a report on Tuesday. They issued an “overweight” rating on the stock. BMO Capital Markets raised their target price on shares of Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Citigroup increased their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Trading Down 1.9 %

Shares of PANW stock opened at $184.01 on Friday. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39. The stock has a fifty day simple moving average of $186.41 and a two-hundred day simple moving average of $185.00. The stock has a market capitalization of $121.83 billion, a price-to-earnings ratio of 103.67, 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Palo Alto Networks 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.