Wealth Alliance Has $1.70 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Wealth Alliance increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,777 shares of the network technology company’s stock after purchasing an additional 71 shares during the quarter. Wealth Alliance’s holdings in Palo Alto Networks were worth $1,704,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PANW. Worth Asset Management LLC bought a new stake in Palo Alto Networks during the 1st quarter worth about $26,000. First Pacific Financial increased its holdings in Palo Alto Networks by 421.7% during the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in Palo Alto Networks in the 2nd quarter valued at approximately $28,000. Fortis Capital Advisors LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter worth $28,000. Finally, Webster Bank N. A. boosted its stake in shares of Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after buying an additional 85 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares in the company, valued at approximately $7,629,160. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the sale, the executive vice president now owns 198,105 shares in the company, valued at approximately $67,955,958.15. The disclosure for this sale can be found here. Insiders have sold a total of 167,917 shares of company stock valued at $49,395,553 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. KeyCorp cut their price target on shares of Palo Alto Networks from $390.00 to $380.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. BMO Capital Markets cut their price objective on shares of Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Scotiabank decreased their price target on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 21st. Loop Capital cut Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research note on Wednesday, February 21st. Finally, Susquehanna dropped their price target on Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating for the company in a research note on Monday, February 26th. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average price target of $314.82.

Palo Alto Networks Stock Up 1.1 %

Shares of PANW traded up $3.02 during mid-day trading on Tuesday, hitting $275.17. 2,293,000 shares of the company’s stock traded hands, compared to its average volume of 5,634,458. The firm has a market capitalization of $88.91 billion, a P/E ratio of 42.46, a PEG ratio of 3.80 and a beta of 1.19. The business’s 50-day moving average price is $302.23 and its 200-day moving average price is $289.99. Palo Alto Networks, Inc. has a 1 year low of $176.30 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.76 earnings per share 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.