Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Canopy Partners LLC

Canopy Partners LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 53.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,650 shares of the network technology company’s stock after buying an additional 573 shares during the quarter. Canopy Partners LLC’s holdings in Palo Alto Networks were worth $300,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. SJS Investment Consulting Inc. boosted its stake in Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 69 shares during the period. Valued Wealth Advisors LLC boosted its position in 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 period. Abound Wealth Management grew its stake 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 last quarter. Atlantic Edge Private Wealth Management LLC increased its position in 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 worth $27,000 after buying an additional 106 shares during the period. Finally, Kiely Wealth Advisory Group Inc. increased its position in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after buying an additional 75 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Activity

In other news, EVP Lee Klarich sold 99,707 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 227,414 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares of the company’s stock, valued at approximately $54,854,038.83. This trade represents a 41.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 818,544 shares of company stock worth $147,132,028. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PANW has been the subject of several recent research reports. StockNews.com lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $190.00 target price (down previously from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Citigroup lifted their price target on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. JMP Securities increased their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, Scotiabank lifted their target price on Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.27.

Palo Alto Networks Price Performance

Shares of PANW opened at $153.57 on Monday. The business’s 50-day moving average is $185.60 and its 200-day moving average is $185.36. The company has a market capitalization of $101.68 billion, a price-to-earnings ratio of 86.52, a P/E/G ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a fifty-two week low of $132.83 and a fifty-two week 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, topping the consensus estimate 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 business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

About Palo Alto Networks

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.