Congress Wealth Management LLC DE Purchases 57,435 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Congress Wealth Management LLC DE boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 116.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,635 shares of the network technology company's stock after buying an additional 57,435 shares during the quarter. Congress Wealth Management LLC DE's holdings in Palo Alto Networks were worth $19,403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after acquiring an additional 31,281,359 shares during the period. Jennison Associates LLC boosted its holdings in Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock valued at $1,048,033,000 after purchasing an additional 2,612,474 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Palo Alto Networks by 109.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,202,926 shares of the network technology company's stock valued at $764,764,000 after purchasing an additional 2,197,765 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Palo Alto Networks in the fourth quarter valued at $388,155,000. Finally, Nordea Investment Management AB raised its stake in shares of Palo Alto Networks by 199.1% during the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company's stock worth $333,925,000 after purchasing an additional 1,213,073 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

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Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 490,723 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $89,532,411.35. Following the sale, the chief executive officer now owns 1,086,404 shares of the company's stock, valued at $198,214,409.80. The trade was a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the company's 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 sale, the chief accounting officer now directly owns 47,976 shares in the company, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,122,864 shares of company stock valued at $204,315,811 over the last quarter. Corporate insiders own 2.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on PANW shares. Barclays reduced their price objective on Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. KeyCorp lifted their target price on Palo Alto Networks from $217.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Susquehanna raised their target price on Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a research report on Tuesday, February 18th. UBS Group raised their price target on Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Finally, Guggenheim cut Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 target price for the company. in a research report on Monday, January 6th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $205.06.

Palo Alto Networks Price Performance

PANW traded up $5.16 during midday trading on Tuesday, hitting $189.95. 5,336,425 shares of the company's stock traded hands, compared to its average volume of 5,739,160. The company has a market cap of $125.77 billion, a PE ratio of 107.01, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39. The stock's fifty day simple moving average is $187.31 and its 200-day simple moving average is $185.38.

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

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.