Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by IHT Wealth Management LLC

IHT Wealth Management LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 59.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,820 shares of the network technology company's stock after purchasing an additional 8,534 shares during the quarter. IHT Wealth Management LLC's holdings in Palo Alto Networks were worth $4,152,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL raised its holdings in Palo Alto Networks by 64.0% during the fourth 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 during the period. SJS Investment Consulting Inc. lifted its holdings in Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Rakuten Securities Inc. boosted its stake in Palo Alto Networks by 8.4% in the 4th quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company's stock worth $165,000 after purchasing an additional 70 shares during the period. Cedar Mountain Advisors LLC grew its holdings in Palo Alto Networks by 70.3% during the 4th quarter. Cedar Mountain Advisors LLC now owns 172 shares of the network technology company's stock valued at $31,000 after buying an additional 71 shares in the last quarter. Finally, Abound Wealth Management raised its position in shares of Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 72 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

PANW has been the subject of several research reports. Susquehanna increased their price objective on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a report on Tuesday, February 18th. Rosenblatt Securities restated a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Monday, March 31st. Scotiabank upped their price objective on Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a report on Tuesday, January 21st. KeyCorp cut their target price on shares of Palo Alto Networks from $240.00 to $205.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Guggenheim downgraded shares of Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Monday, January 6th. Two investment 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $203.06.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 99,707 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares in the company, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the transaction, the executive vice president now directly owns 3,543,516 shares of the company's stock, valued at $586,132,981.56. This represents a 2.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,039,318 shares of company stock worth $181,925,602 in the last three months. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW traded up $7.72 during midday trading on Thursday, reaching $176.04. 4,016,386 shares of the stock traded hands, compared to its average volume of 5,826,151. The business has a 50-day moving average of $177.93 and a two-hundred day moving average of $184.64. Palo Alto Networks, Inc. has a 12-month low of $140.81 and a 12-month high of $208.39. The stock has a market capitalization of $116.56 billion, a PE ratio of 99.18, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07.

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

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.