Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Worth Financial Advisory Group LLC

Worth Financial Advisory Group LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 92.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,172 shares of the network technology company’s stock after purchasing an additional 1,523 shares during the period. Worth Financial Advisory Group LLC’s holdings in Palo Alto Networks were worth $577,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PANW. Itau Unibanco Holding S.A. acquired a new stake in shares of Palo Alto Networks during the 3rd quarter valued at $29,000. True Wealth Design LLC lifted its holdings in shares of Palo Alto Networks by 2,933.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 88 shares during the last quarter. SJS Investment Consulting Inc. boosted its position 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 purchasing an additional 69 shares during the period. Valued Wealth Advisors LLC increased its stake in Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after purchasing an additional 101 shares in the last quarter. Finally, Abound Wealth Management raised its holdings in Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 72 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Price Performance

NASDAQ PANW opened at $184.96 on Thursday. The company’s fifty day moving average is $187.53 and its two-hundred day moving average is $185.38. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The firm has a market capitalization of $122.46 billion, a price-to-earnings ratio of 104.20, a P/E/G ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last released its 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. The business 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, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on PANW. Royal Bank of Canada reiterated an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Monday, February 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $223.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. BTIG Research lowered Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Westpark Capital reiterated a “hold” rating and set a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Finally, Barclays reduced their price objective on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Three 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.06.

Insider Activity

In related news, EVP Lee Klarich sold 99,707 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the sale, the executive vice president now owns 358,197 shares of the company’s stock, valued at $65,353,042.65. The trade was a 21.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nikesh Arora sold 490,723 shares of the firm’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 transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $198,214,409.80. This represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,122,864 shares of company stock worth $204,315,811. Company insiders own 2.50% of the company’s stock.

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.