Sagespring Wealth Partners LLC Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Sagespring Wealth Partners LLC acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 5,333 shares of the network technology company's stock, valued at approximately $970,000.

Other hedge funds also recently made changes to their positions in the company. 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 worth $25,000 after purchasing an additional 69 shares during the period. Valued Wealth Advisors LLC increased its stake in 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 in the last quarter. Abound Wealth Management raised its holdings in 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 acquiring an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Palo Alto Networks by 265.0% in 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 acquiring an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted 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 worth $28,000 after acquiring an additional 79 shares during the period. 79.82% of the stock is currently owned by institutional investors.

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Palo Alto Networks Price Performance

PANW stock traded up $3.57 during trading on Tuesday, hitting $173.55. 4,132,206 shares of the company traded hands, compared to its average volume of 5,894,591. Palo Alto Networks, Inc. has a 1 year low of $135.18 and a 1 year high of $208.39. The company has a market cap of $114.91 billion, a PE ratio of 97.78, a P/E/G ratio of 5.64 and a beta of 1.07. The stock's 50-day simple moving average is $181.95 and its 200 day simple moving average is $184.92.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating 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 firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

PANW has been the topic of a number of research analyst reports. Citigroup boosted their price target on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. UBS Group upped their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Morgan Stanley set a $230.00 price target on shares of Palo Alto Networks in a report on Tuesday, March 18th. Royal Bank of Canada restated an "outperform" rating and set a $225.00 price objective on shares of Palo Alto Networks in a research report on Monday, February 10th. Finally, Guggenheim downgraded Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 target price on the stock. in a research report on Monday, January 6th. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $204.52.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 99,707 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the transaction, the executive vice president now owns 358,197 shares in the company, valued at $65,353,042.65. This represents a 21.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks 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 in the company, valued at $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,039,318 shares of company stock worth $181,925,602 in the last 90 days. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks 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.