GeoWealth Management LLC Purchases 2,657 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

GeoWealth Management LLC boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 104.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,211 shares of the network technology company’s stock after purchasing an additional 2,657 shares during the period. GeoWealth Management LLC’s holdings in Palo Alto Networks were worth $948,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. SJS Investment Consulting Inc. boosted its holdings in 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 position in shares of Palo Alto Networks by 246.3% during the 4th 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 last quarter. Strategic Investment Solutions Inc. IL raised its stake in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Abound Wealth Management raised its position in Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 72 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the subject of several research analyst reports. Morgan Stanley dropped their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a research report on Wednesday. Stephens initiated coverage on shares of Palo Alto Networks in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $205.00 price objective on the stock. Scotiabank lifted their target price on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Susquehanna boosted their price target on Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a research note on Tuesday, February 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $223.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $203.06.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on 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 directly owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,039,318 shares of company stock valued at $181,925,602. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Stock Down 1.2 %

Shares of NASDAQ:PANW opened at $167.69 on Friday. Palo Alto Networks, Inc. has a 52 week low of $137.60 and a 52 week high of $208.39. The business has a fifty day simple moving average of $180.06 and a 200-day simple moving average of $184.86. The company has a market cap of $111.03 billion, a P/E ratio of 94.47, a P/E/G ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal 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.