Circle Wealth Management LLC Buys 5,490 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Circle Wealth Management LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 97.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,118 shares of the network technology company’s stock after purchasing an additional 5,490 shares during the period. Circle Wealth Management LLC’s holdings in Palo Alto Networks were worth $2,023,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. SJS Investment Consulting Inc. lifted its holdings in Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 69 shares in the last quarter. Transce3nd LLC purchased a new position in shares of Palo Alto Networks during the fourth quarter valued at about $25,000. Valued Wealth Advisors LLC boosted its stake in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after buying an additional 101 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Finally, Abound Wealth Management raised 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 valued at $27,000 after buying an additional 72 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on PANW shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $190.00 price objective (down from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Morgan Stanley lowered their price target on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Stephens cut shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 1st. Scotiabank boosted their price objective on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $235.00 price target on shares of Palo Alto Networks in a report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $203.06.

Palo Alto Networks Trading Down 0.2 %

PANW stock opened at $188.23 on Thursday. The firm has a 50-day moving average of $175.92 and a two-hundred day moving average of $184.73. The company has a market cap of $124.63 billion, a price-to-earnings ratio of 106.05, a PEG ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $189.27, for a total value of $22,858,894.98. Following the sale, the executive vice president now owns 293,010 shares of the company’s stock, valued at $55,458,002.70. This trade represents a 29.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $39,281,220.22. Following the transaction, the chief executive officer now owns 317,571 shares of the company’s stock, valued at $54,854,038.83. This trade represents a 41.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 568,962 shares of company stock valued at $96,933,690 in the last three months. 2.50% of the stock is owned by corporate insiders.

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.