Gerber Kawasaki Wealth & Investment Management Purchases 7,825 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Gerber Kawasaki Wealth & Investment Management raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 104.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,308 shares of the network technology company's stock after purchasing an additional 7,825 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in Palo Alto Networks were worth $2,785,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PANW. SJS Investment Consulting Inc. raised its holdings in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after buying an additional 69 shares during the period. Transce3nd LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter worth $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after acquiring an additional 101 shares during the period. Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Finally, Abound Wealth Management boosted its stake in Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 72 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PANW shares. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a research note on Thursday, April 10th. Stephens started coverage on Palo Alto Networks in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $205.00 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Jefferies Financial Group lowered their price objective on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Morgan Stanley reduced their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $203.06.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares of the company's stock, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were 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 of the company's stock, valued at $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,039,318 shares of company stock worth $181,925,602. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $178.98 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $208.39. The company has a market cap of $118.50 billion, a PE ratio of 100.83, a P/E/G ratio of 5.64 and a beta of 1.07. The stock's fifty day moving average price is $176.86 and its two-hundred day moving average price is $184.72.

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

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.

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