Legacy Capital Wealth Partners LLC Invests $219,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Legacy Capital Wealth Partners LLC acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 743 shares of the network technology company’s stock, valued at approximately $219,000.

A number of other large investors also recently bought and sold shares of the stock. MV Capital Management Inc. lifted its holdings in shares of Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 29 shares during the last quarter. Quent Capital LLC lifted its stake in Palo Alto Networks by 15.9% in the fourth quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after buying an additional 32 shares during the last quarter. Parisi Gray Wealth Management boosted its holdings in shares of Palo Alto Networks by 2.2% in the fourth quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock valued at $448,000 after acquiring an additional 33 shares during the period. Argonautica Private Wealth Management Inc. grew its position in shares of Palo Alto Networks by 2.3% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock worth $450,000 after acquiring an additional 34 shares during the last quarter. Finally, Howard Financial Services LTD. increased its holdings in shares of Palo Alto Networks by 3.4% in the 4th quarter. Howard Financial Services LTD. now owns 1,061 shares of the network technology company’s stock valued at $313,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold 122,917 shares of company stock valued at $33,959,203 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Up 0.7 %

PANW stock opened at $293.41 on Tuesday. The company has a 50-day simple moving average of $286.15 and a 200 day simple moving average of $292.81. The company has a market capitalization of $94.80 billion, a P/E ratio of 45.85, a PEG ratio of 3.96 and a beta of 1.19. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week 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 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. Equities analysts anticipate that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PANW. The Goldman Sachs Group raised their price objective on shares of Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Scotiabank decreased their target price on shares of Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 21st. Loop Capital cut 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. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Finally, Barclays dropped their target price on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $314.82.

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.