Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 109.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,746 shares of the network technology company’s stock after purchasing an additional 1,433 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Palo Alto Networks were worth $500,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. boosted its stake in shares of Palo Alto Networks by 97.2% in 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. Valued Wealth Advisors LLC increased its holdings in shares of Palo Alto Networks by 246.3% in the fourth 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 during the period. Abound Wealth Management increased its holdings 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 valued at $27,000 after purchasing an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 106 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 79 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Nikesh Arora sold 490,723 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $198,214,409.80. The trade was a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at $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 quarter. Insiders own 2.50% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $184.01 on Friday. The business’s 50-day moving average price is $186.41 and its two-hundred day moving average price is $185.00. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39. The company has a market capitalization of $121.83 billion, a P/E ratio of 103.67, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results 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 return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on PANW. Guggenheim downgraded Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target on the stock. in a research note on Monday, January 6th. Jefferies Financial Group raised their price target on Palo Alto Networks from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities raised their target price on Palo Alto Networks from $212.50 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. TD Cowen raised their target price on Palo Alto Networks from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Westpark Capital restated a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.06.

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.