EverSource Wealth Advisors LLC Has $4.16 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

EverSource Wealth Advisors LLC lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 102.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,870 shares of the network technology company's stock after purchasing an additional 11,595 shares during the period. EverSource Wealth Advisors LLC's holdings in Palo Alto Networks were worth $4,161,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its holdings in Palo Alto Networks by 42.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 198,678 shares of the network technology company's stock worth $36,151,000 after acquiring an additional 59,399 shares during the period. Saturna Capital Corp raised its position in shares of Palo Alto Networks by 136.2% in the 4th quarter. Saturna Capital Corp now owns 8,169 shares of the network technology company's stock worth $1,486,000 after purchasing an additional 4,710 shares during the last quarter. PFG Advisors increased its holdings in Palo Alto Networks by 88.2% during the fourth quarter. PFG Advisors now owns 5,421 shares of the network technology company's stock valued at $986,000 after buying an additional 2,541 shares during the last quarter. Summit X LLC grew its stake in Palo Alto Networks by 109.2% during the fourth quarter. Summit X LLC now owns 4,425 shares of the network technology company's stock valued at $805,000 after acquiring an additional 2,310 shares in the last quarter. Finally, Windle Wealth LLC grew its stake in shares of Palo Alto Networks by 100.0% during the fourth quarter. Windle Wealth LLC now owns 5,338 shares of the network technology company's stock valued at $971,000 after buying an additional 2,669 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks 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 in the company, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 120,000 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the transaction, the executive vice president now owns 365,856 shares in the company, valued at $65,744,323.20. The trade was a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock worth $204,315,811 in the last ninety days. Insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Up 2.9 %

PANW stock opened at $178.93 on Wednesday. The business has a 50 day simple moving average of $185.78 and a 200-day simple moving average of $184.83. The company has a market capitalization of $118.47 billion, a P/E ratio of 100.81, a PEG ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39.

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Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results 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 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 analysts' expectations of $2.24 billion. Research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PANW has been the topic of several research reports. Rosenblatt Securities increased their price target on shares of Palo Alto Networks from $212.50 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Citigroup increased their price target on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Westpark Capital reaffirmed a "hold" rating and set a $196.40 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. HSBC cut Palo Alto Networks from a "hold" rating to a "reduce" rating and decreased their target price for the stock from $152.00 to $145.50 in a research report on Friday, November 22nd. Finally, Morgan Stanley upped their target price on Palo Alto Networks from $223.00 to $230.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.06.

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.

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