C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $7 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,444 shares of the network technology company's stock, valued at approximately $6,995,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PANW. SJS Investment Consulting Inc. boosted its holdings in Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after acquiring an additional 69 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock valued at $26,000 after purchasing an additional 41 shares in the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after purchasing an additional 101 shares in the last quarter. Abound Wealth Management lifted its holdings in shares of Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of 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. Institutional investors own 79.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PANW shares. Rosenblatt Securities raised their target price on Palo Alto Networks from $212.50 to $235.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Evercore ISI dropped their target price on Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating on the stock in a report on Tuesday, December 31st. Guggenheim lowered Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Monday, January 6th. Truist Financial raised their target price on Palo Alto Networks from $200.00 to $212.50 and gave the company a "buy" rating in a report on Monday, November 18th. Finally, UBS Group increased their price target on Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.70.

Palo Alto Networks Stock Down 4.0 %

NASDAQ:PANW traded down $7.94 during trading hours on Friday, hitting $190.87. 3,317,805 shares of the company's stock traded hands, compared to its average volume of 6,309,446. The firm has a market cap of $126.37 billion, a P/E ratio of 107.54, a P/E/G ratio of 5.82 and a beta of 1.14. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39. The business's fifty day simple moving average is $187.20 and its two-hundred day simple moving average is $182.95.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.24 billion. On average, analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 336,000 shares of Palo Alto Networks stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the completion of the transaction, the executive vice president now owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,458,864 shares of company stock valued at $269,397,331 over the last 90 days. 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.