TRUE Private Wealth Advisors Has $1.35 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

TRUE Private Wealth Advisors grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 99.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,437 shares of the network technology company's stock after acquiring an additional 3,716 shares during the period. TRUE Private Wealth Advisors' holdings in Palo Alto Networks were worth $1,353,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. increased its position 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. Valued Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 101 shares during the period. 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. Atlantic Edge Private Wealth Management LLC grew its position in Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after buying an additional 106 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. increased its stake in Palo Alto Networks by 100.0% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after acquiring an additional 75 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the transaction, the executive vice president now directly owns 321,774 shares of the company's stock, valued at $48,629,704.62. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of the business's stock in a transaction on 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 sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 939,318 shares of company stock valued at $165,384,602. Company insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of research reports. Loop Capital reduced their price objective on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating for the company in a research report on Tuesday, January 14th. Barclays reduced their target price on Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Jefferies Financial Group lowered their price target on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Westpark Capital reaffirmed a "hold" rating and set a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Finally, Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $204.52.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW traded up $0.07 during midday trading on Friday, reaching $168.34. 6,295,092 shares of the stock were exchanged, compared to its average volume of 5,904,752. The company has a market capitalization of $111.46 billion, a price-to-earnings ratio of 94.84, a P/E/G ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 12 month low of $135.18 and a 12 month high of $208.39. The business has a 50-day simple moving average of $182.29 and a two-hundred day simple moving average of $184.90.

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. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

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.