Sanctuary Wealth Management L.L.C. Acquires 171 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Sanctuary Wealth Management L.L.C. grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342 shares of the network technology company’s stock after buying an additional 171 shares during the quarter. Sanctuary Wealth Management L.L.C.’s holdings in Palo Alto Networks were worth $62,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Dorsey Wright & Associates raised its stake in shares of Palo Alto Networks by 100.6% in the fourth quarter. Dorsey Wright & Associates now owns 19,766 shares of the network technology company’s stock worth $3,597,000 after purchasing an additional 9,913 shares during the last quarter. RWA Wealth Partners LLC grew its holdings in Palo Alto Networks by 105.8% during the fourth quarter. RWA Wealth Partners LLC now owns 64,108 shares of the network technology company’s stock worth $11,665,000 after buying an additional 32,950 shares in the last quarter. Portland Global Advisors LLC raised its position in Palo Alto Networks by 96.3% in the 4th quarter. Portland Global Advisors LLC now owns 50,989 shares of the network technology company’s stock valued at $9,278,000 after buying an additional 25,014 shares during the last quarter. Schroder Investment Management Group lifted its stake in Palo Alto Networks by 105.3% during the 4th quarter. Schroder Investment Management Group now owns 2,080,724 shares of the network technology company’s stock valued at $378,609,000 after acquiring an additional 1,067,204 shares in the last quarter. Finally, American Money Management LLC boosted its holdings in Palo Alto Networks by 86.6% during the 4th quarter. American Money Management LLC now owns 6,300 shares of the network technology company’s stock worth $1,146,000 after acquiring an additional 2,923 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of the business’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 transaction, the executive vice president now owns 358,197 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 235,492 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $199,159,581.28. This represents a 17.81 % 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 worth $204,315,811 in the last ninety days. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

PANW has been the topic of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. Susquehanna lifted their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a research report on Tuesday, February 18th. Barclays reduced their target price on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Guggenheim lowered Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target on the stock. in a report on Monday, January 6th. Finally, Citigroup upped their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Three equities research 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.06.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $172.76 on Friday. The company has a market capitalization of $114.38 billion, a price-to-earnings ratio of 97.33, a PEG ratio of 5.64 and a beta of 1.04. The business has a 50 day moving average of $187.39 and a 200 day moving average of $185.39. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $2.24 billion. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.