Main Street Financial Solutions LLC Acquires 2,514 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Main Street Financial Solutions LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 112.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,755 shares of the network technology company's stock after acquiring an additional 2,514 shares during the period. Main Street Financial Solutions LLC's holdings in Palo Alto Networks were worth $865,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PANW. SJS Investment Consulting Inc. increased its position in shares of Palo Alto Networks by 97.2% in 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 in the last quarter. Valued Wealth Advisors LLC lifted 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 worth $26,000 after purchasing an additional 101 shares in the last quarter. Abound Wealth Management grew its stake in shares of Palo Alto Networks by 97.3% in 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 in the last quarter. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 106 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its position in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 79 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Down 4.4 %

Shares of NASDAQ PANW traded down $7.46 during midday trading on Monday, hitting $160.23. The company's stock had a trading volume of 1,249,503 shares, compared to its average volume of 5,840,361. Palo Alto Networks, Inc. has a one year low of $137.60 and a one year high of $208.39. The stock has a fifty day moving average price of $180.06 and a 200 day moving average price of $184.98. The firm has a market capitalization of $106.09 billion, a price-to-earnings ratio of 90.27, a P/E/G 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 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to analysts' expectations 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 research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PANW. Scotiabank lifted their price objective on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a research note on Tuesday, January 21st. Loop Capital dropped their price target on shares of Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. UBS Group upped their price objective on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. StockNews.com lowered Palo Alto Networks from a "buy" rating to a "hold" rating in a research report on Tuesday, December 24th. Finally, BTIG Research downgraded Palo Alto Networks from a "buy" rating to a "neutral" rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $203.06.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 1,039,318 shares of company stock valued at $181,925,602 in the last ninety days. Company insiders own 2.50% of the company's stock.

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.