Independent Solutions Wealth Management LLC Raises Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Independent Solutions Wealth Management LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 104.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,314 shares of the network technology company's stock after purchasing an additional 5,780 shares during the period. Independent Solutions Wealth Management LLC's holdings in Palo Alto Networks were worth $2,059,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PANW. Itau Unibanco Holding S.A. acquired a new position in Palo Alto Networks during the third quarter valued at $29,000. True Wealth Design LLC lifted its holdings in shares of Palo Alto Networks by 2,933.3% in the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company's stock valued at $31,000 after buying an additional 88 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Palo Alto Networks in the third quarter worth about $39,000. SJS Investment Consulting Inc. grew its holdings in Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after acquiring an additional 69 shares during the period. Finally, Valued Wealth Advisors LLC raised its position 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 valued at $26,000 after acquiring an additional 101 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

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Palo Alto Networks Stock Up 2.8 %

NASDAQ:PANW traded up $5.16 on Tuesday, reaching $189.95. The company's stock had a trading volume of 5,336,425 shares, compared to its average volume of 5,737,396. The firm has a market cap of $125.77 billion, a price-to-earnings ratio of 107.01, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The stock has a 50 day moving average price of $186.92 and a 200 day moving average price of $185.23.

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 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares of the company's stock, valued at approximately $198,214,409.80. The trade was a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares of the company's stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,122,864 shares of company stock worth $204,315,811. Insiders own 2.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PANW. Rosenblatt Securities raised their price objective on shares of Palo Alto Networks from $212.50 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Susquehanna raised their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research report on Tuesday, February 18th. BTIG Research downgraded shares of Palo Alto Networks from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. StockNews.com lowered Palo Alto Networks from a "buy" rating to a "hold" rating in a research note on Tuesday, December 24th. Finally, UBS Group upped their price target on Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.06.

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.