Fi3 FINANCIAL ADVISORS LLC Takes $697,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fi3 FINANCIAL ADVISORS LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, Holdings Channel reports. The institutional investor bought 3,832 shares of the network technology company’s stock, valued at approximately $697,000.

Other large investors also recently modified their holdings of the company. National Pension Service lifted its holdings in shares of Palo Alto Networks by 82.1% in the fourth quarter. National Pension Service now owns 1,345,740 shares of the network technology company’s stock valued at $244,871,000 after purchasing an additional 606,778 shares in the last quarter. Blue Trust Inc. increased its position in shares of Palo Alto Networks by 31.7% during the fourth quarter. Blue Trust Inc. now owns 3,883 shares of the network technology company’s stock valued at $707,000 after acquiring an additional 934 shares during the last quarter. New York Life Investment Management LLC increased its position in shares of Palo Alto Networks by 103.0% during the fourth quarter. New York Life Investment Management LLC now owns 97,351 shares of the network technology company’s stock valued at $17,714,000 after acquiring an additional 49,391 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of Palo Alto Networks by 96.8% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 3,070 shares of the network technology company’s stock valued at $559,000 after acquiring an additional 1,510 shares during the last quarter. Finally, Trinity Legacy Partners LLC increased its position in shares of Palo Alto Networks by 107.5% during the fourth quarter. Trinity Legacy Partners LLC now owns 26,672 shares of the network technology company’s stock valued at $4,853,000 after acquiring an additional 13,819 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the transaction, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. The trade was a 24.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 235,492 shares of Palo Alto Networks stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $183.32, for a total value of $43,170,393.44. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. This represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,122,864 shares of company stock worth $204,315,811. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. KeyCorp increased their price target on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Hsbc Global Res downgraded Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 22nd. HSBC downgraded Palo Alto Networks from a “hold” rating to a “reduce” rating and decreased their target price for the stock from $152.00 to $145.50 in a research report on Friday, November 22nd. StockNews.com downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Finally, Evercore ISI decreased their target price on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a research report on Tuesday, December 31st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.06.

Palo Alto Networks Stock Down 0.9 %

Shares of PANW stock opened at $182.32 on Friday. The business has a 50-day moving average price of $186.59 and a two-hundred day moving average price of $185.00. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The firm has a market cap of $120.71 billion, a P/E ratio of 102.72, a price-to-earnings-growth 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, topping 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 return on equity of 21.93% and a net margin of 14.64%. As a group, research analysts expect 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.