Perennial Investment Advisors LLC Buys 5,226 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Perennial Investment Advisors LLC grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 104.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,224 shares of the network technology company's stock after purchasing an additional 5,226 shares during the quarter. Perennial Investment Advisors LLC's holdings in Palo Alto Networks were worth $1,860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. SJS Investment Consulting Inc. raised its position 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 valued at $25,000 after purchasing an additional 69 shares during the last quarter. Valued Wealth Advisors LLC increased its stake 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 valued at $26,000 after buying an additional 101 shares during the period. Abound Wealth Management raised its holdings 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 acquiring an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 106 shares during the period. Finally, Kiely Wealth Advisory Group Inc. lifted its stake in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after acquiring an additional 75 shares during the period. Institutional investors own 79.82% of the company's stock.

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Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the sale, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now directly owns 317,571 shares in the company, valued at approximately $54,854,038.83. The trade was a 41.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 818,544 shares of company stock worth $147,132,028. Insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Up 2.3 %

NASDAQ PANW traded up $3.58 on Wednesday, reaching $156.11. 2,207,093 shares of the stock were exchanged, compared to its average volume of 5,896,902. The firm has a market capitalization of $103.36 billion, a PE ratio of 88.04, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a one year low of $134.83 and a one year high of $208.39. The company's 50-day simple moving average is $183.39 and its two-hundred day simple moving average is $184.91.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates 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. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on PANW shares. Guggenheim lowered shares of Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Monday, January 6th. Citigroup increased their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Susquehanna raised their price objective 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. Evercore ISI reduced their target price on Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating on the stock in a report on Tuesday, December 31st. Finally, UBS Group increased their target price on Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and a consensus price target of $204.27.

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.