BIP Wealth LLC Makes New $214,000 Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

BIP Wealth LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 726 shares of the network technology company’s stock, valued at approximately $214,000.

A number of other institutional investors also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Palo Alto Networks by 6.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,510 shares of the network technology company’s stock valued at $2,215,000 after purchasing an additional 424 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in shares of Palo Alto Networks by 1.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 26,958 shares of the network technology company’s stock valued at $7,949,000 after acquiring an additional 427 shares during the last quarter. Alaska Permanent Fund Corp acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $42,000. Harvest Fund Management Co. Ltd increased its position in shares of Palo Alto Networks by 28.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 5,543 shares of the network technology company’s stock valued at $1,630,000 after acquiring an additional 1,212 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. increased its position in shares of Palo Alto Networks by 163.9% in the fourth quarter. Mizuho Securities Co. Ltd. now owns 950 shares of the network technology company’s stock valued at $280,000 after acquiring an additional 590 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $56,327,194.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $56,327,194.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the transaction, the president now directly owns 25,812 shares in the company, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. Insiders sold 167,917 shares of company stock worth $49,395,553 over the last three months. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PANW. Mizuho lowered their target price on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Royal Bank of Canada boosted their price target on Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Citigroup boosted their price target on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Loop Capital downgraded Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research report on Wednesday, February 21st. Finally, Evercore ISI boosted their price target on Palo Alto Networks from $315.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $314.82.

Palo Alto Networks Stock Down 1.5 %

Shares of NASDAQ:PANW traded down $4.34 during trading on Thursday, hitting $289.48. 1,665,774 shares of the company were exchanged, compared to its average volume of 5,449,009. The business’s 50 day moving average is $290.67 and its 200-day moving average is $291.86. The company has a market capitalization of $93.53 billion, a P/E ratio of 44.45, a price-to-earnings-growth ratio of 3.99 and a beta of 1.19. 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 quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.77 earnings per share 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.