Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 114.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,247 shares of the network technology company's stock after buying an additional 2,269 shares during the quarter. Prosperity Consulting Group LLC's holdings in Palo Alto Networks were worth $773,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. raised its position in shares of 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 purchasing an additional 69 shares during the period. Transce3nd LLC purchased a new position in Palo Alto Networks in the 4th quarter worth about $25,000. Valued Wealth Advisors LLC raised its holdings in Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after buying an additional 101 shares during the period. Strategic Investment Solutions Inc. IL lifted its stake 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 buying an additional 55 shares in the last quarter. Finally, Abound Wealth Management boosted its holdings 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 worth $27,000 after buying an additional 72 shares during the period. Institutional investors own 79.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PANW. KeyCorp reduced their price target on shares of Palo Alto Networks from $240.00 to $205.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Evercore ISI reduced their target price on Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating for the company in a report on Tuesday, December 31st. Scotiabank lifted their price target on Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a report on Tuesday, January 21st. Loop Capital dropped their price target 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. Finally, Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $203.06.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $178.98 on Monday. Palo Alto Networks, Inc. has a one year low of $142.00 and a one year high of $208.39. The stock has a fifty day moving average price of $176.86 and a 200 day moving average price of $184.72. The stock has a market cap of $118.50 billion, a P/E ratio of 100.83, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07.

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 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was 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 owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the sale, the executive vice president now owns 358,197 shares in the company, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. 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 90 days. 2.50% of the stock is owned by company insiders.

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.

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