Forte Capital LLC ADV Grows Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Forte Capital LLC ADV grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 91.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,094 shares of the network technology company's stock after purchasing an additional 2,435 shares during the quarter. Forte Capital LLC ADV's holdings in Palo Alto Networks were worth $927,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Capital Advisors Ltd. LLC increased its holdings in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock worth $26,000 after buying an additional 41 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Palo Alto Networks during the 3rd quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL increased its holdings in shares of Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company's stock worth $29,000 after buying an additional 55 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Palo Alto Networks by 2,933.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company's stock worth $31,000 after buying an additional 88 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Palo Alto Networks in the 3rd quarter valued at approximately $32,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks 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 transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nir Zuk sold 336,000 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the completion of the transaction, the executive vice president now directly 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 have sold a total of 1,458,864 shares of company stock worth $269,397,331 in the last quarter. 2.50% of the stock is owned by insiders.

Palo Alto Networks Stock Performance

NASDAQ PANW traded down $7.78 during mid-day trading on Friday, reaching $191.03. 5,451,305 shares of the stock were exchanged, compared to its average volume of 6,377,549. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39. The business's fifty day simple moving average is $187.20 and its 200 day simple moving average is $182.95. The stock has a market capitalization of $126.48 billion, a PE ratio of 107.62, a PEG ratio of 5.82 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. On average, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several research reports. Northland Securities reiterated a "market perform" rating and issued a $185.00 target price (up previously from $175.00) on shares of Palo Alto Networks in a report on Thursday, November 21st. Guggenheim downgraded shares of Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 target price for the company. in a report on Monday, January 6th. Morgan Stanley lifted their target price on shares of Palo Alto Networks from $223.00 to $230.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $190.00 target price (down previously from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $202.70.

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.