Accurate Wealth Management LLC Acquires 254 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Accurate Wealth Management LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,797 shares of the network technology company’s stock after purchasing an additional 254 shares during the quarter. Accurate Wealth Management LLC’s holdings in Palo Alto Networks were worth $471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Transce3nd LLC bought a new position in shares of Palo Alto Networks during the fourth quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL increased its stake in 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. Atlantic Edge Private Wealth Management LLC increased its stake in Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after acquiring an additional 79 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its holdings in Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 78 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research note on Monday, May 19th. KeyCorp reissued an “overweight” rating and set a $220.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. UBS Group raised their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Citigroup increased their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $195.95 on Wednesday. The company has a market capitalization of $130.66 billion, a price-to-earnings ratio of 110.39, a PEG ratio of 5.64 and a beta of 0.97. The stock’s 50 day simple moving average is $181.56 and its 200 day simple moving average is $185.03. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the company earned $0.66 EPS. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. This trade represents a 27.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the transaction, the executive vice president now owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This trade represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 789,736 shares of company stock valued at $139,837,528 over the last three months. Company insiders own 2.50% of the company’s stock.

About Palo Alto Networks

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.