Icon Advisers Inc. Co. Invests $3.72 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

Icon Advisers Inc. Co. bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 20,419 shares of the network technology company's stock, valued at approximately $3,715,000.

A number of other institutional investors have also modified their holdings of the stock. SJS Investment Consulting Inc. lifted 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 last quarter. Valued Wealth Advisors LLC lifted its stake in 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 purchasing an additional 101 shares during the last quarter. Abound Wealth Management boosted its holdings in Palo Alto Networks by 97.3% in the fourth 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. Atlantic Edge Private Wealth Management LLC increased its stake in Palo Alto Networks by 265.0% during 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 during the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

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Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the business'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 completion of the transaction, the chief accounting officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the company's stock in a transaction dated 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 owns 358,197 shares of the company's stock, valued at $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,039,318 shares of company stock worth $181,925,602 over the last three months. Corporate insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Susquehanna raised their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a report on Tuesday, February 18th. Loop Capital dropped their target price on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. Citigroup boosted their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. BTIG Research downgraded shares of Palo Alto Networks from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. Finally, Barclays reduced their target price on shares of Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.52.

Palo Alto Networks Trading Up 1.0 %

PANW stock traded up $1.64 during mid-day trading on Monday, hitting $169.98. The stock had a trading volume of 5,098,383 shares, compared to its average volume of 5,901,559. Palo Alto Networks, Inc. has a 1-year low of $135.18 and a 1-year high of $208.39. The company has a fifty day moving average of $181.95 and a 200 day moving average of $184.92. The stock has a market capitalization of $112.54 billion, a price-to-earnings ratio of 95.76, a PEG ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $2.24 billion. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share 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.