Phoenix Financial Ltd. Has $86.80 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Phoenix Financial Ltd. boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 93.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 471,889 shares of the network technology company's stock after purchasing an additional 228,488 shares during the quarter. Palo Alto Networks comprises 1.2% of Phoenix Financial Ltd.'s portfolio, making the stock its 29th largest position. Phoenix Financial Ltd. owned approximately 0.07% of Palo Alto Networks worth $86,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SJS Investment Consulting Inc. lifted its stake 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 acquiring an additional 69 shares during the period. Valued Wealth Advisors LLC boosted its stake in shares of Palo Alto Networks by 246.3% in 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 last quarter. Abound Wealth Management grew its stake in shares of Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 72 shares during the period. 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 valued at $27,000 after buying an additional 106 shares during the period. Finally, Kiely Wealth Advisory Group Inc. grew its position in shares of Palo Alto Networks by 100.0% during the 4th 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 currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Westpark Capital reissued a "hold" rating and issued a $196.40 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. 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. Stephens assumed coverage on shares of Palo Alto Networks in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $205.00 price target for the company. Royal Bank of Canada restated an "outperform" rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Monday, February 10th. Finally, Loop Capital lowered their price target on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $204.52.

Insider Activity

In other news, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 47,976 shares of the company's stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the sale, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 939,318 shares of company stock worth $165,384,602 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Up 0.7 %

Shares of PANW stock traded up $1.23 during mid-day trading on Monday, reaching $169.57. The stock had a trading volume of 1,512,299 shares, compared to its average volume of 5,887,673. The firm's 50 day simple moving average is $182.29 and its 200 day simple moving average is $184.90. The firm has a market cap of $112.27 billion, a PE ratio of 95.53, a P/E/G ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a one year low of $135.18 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results 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. 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 return on equity of 21.93% and a net margin of 14.64%. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share 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.