Peterson Wealth Management Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Peterson Wealth Management raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 103.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,090 shares of the network technology company’s stock after buying an additional 9,724 shares during the quarter. Palo Alto Networks comprises 2.1% of Peterson Wealth Management’s portfolio, making the stock its 18th biggest holding. Peterson Wealth Management’s holdings in Palo Alto Networks were worth $3,474,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PANW. SJS Investment Consulting Inc. increased its holdings in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after purchasing an additional 69 shares during the period. Transce3nd LLC acquired a new stake in Palo Alto Networks in the 4th quarter valued at $25,000. Valued Wealth Advisors LLC boosted its stake 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 worth $26,000 after purchasing an additional 101 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in shares of Palo Alto Networks by 64.0% during the 4th 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 during the period. Finally, Abound Wealth Management boosted its position in shares of 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 purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $186.93 on Thursday. Palo Alto Networks, Inc. has a 52-week low of $142.00 and a 52-week high of $208.39. The stock’s 50 day moving average price is $176.06 and its two-hundred day moving average price is $184.72. The stock has a market capitalization of $123.77 billion, a price-to-earnings ratio of 105.31, a PEG ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PANW. Cantor Fitzgerald restated an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. KeyCorp dropped their target price on shares of Palo Alto Networks from $240.00 to $205.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Jefferies Financial Group decreased their price objective on Palo Alto Networks from $240.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $190.00 price objective (down previously from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Finally, Guggenheim cut Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $203.06.

Insider Activity

In other news, CAO Josh D. Paul sold 700 shares of the stock in a transaction on Monday, February 3rd. The stock was 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 of the company’s stock, valued at $8,694,210.72. This represents a 1.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 99,707 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 358,197 shares in the company, valued at $65,353,042.65. This trade represents 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. Insiders own 2.50% of the company’s stock.

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.