Petros Family Wealth LLC Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Petros Family Wealth LLC acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,190 shares of the network technology company's stock, valued at approximately $580,000.

Several other hedge funds have also recently bought and sold shares of the business. SJS Investment Consulting Inc. boosted 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 valued at $25,000 after acquiring an additional 69 shares during the period. Valued Wealth Advisors LLC increased its stake 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 during the period. Abound Wealth Management raised its holdings in Palo Alto Networks by 97.3% in the 4th 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 grew 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 worth $27,000 after purchasing an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Guggenheim downgraded 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. KeyCorp increased their target price on Palo Alto Networks from $217.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. UBS Group boosted their price target on Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective for the company in a report on Thursday. Finally, StockNews.com downgraded shares of Palo Alto Networks from a "buy" rating to a "hold" rating in a report on Tuesday, December 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $204.52.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 99,707 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 $18,191,542.15. Following the sale, the executive vice president now owns 358,197 shares of the company's stock, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This represents a 2.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,039,318 shares of company stock valued at $181,925,602. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $1.64 during trading hours on Monday, hitting $169.98. 5,098,383 shares of the company's stock traded hands, compared to its average volume of 5,901,559. The stock has a market capitalization of $112.54 billion, a price-to-earnings ratio of 95.76, a PEG 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 company has a fifty day simple moving average of $182.29 and a 200-day simple moving average of $184.90.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data 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. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. On average, analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

About Palo Alto Networks

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.