Savvy Advisors Inc. Has $1.81 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Savvy Advisors Inc. grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 425.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,938 shares of the network technology company's stock after buying an additional 8,048 shares during the quarter. Savvy Advisors Inc.'s holdings in Palo Alto Networks were worth $1,808,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. boosted its holdings in Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock valued at $25,000 after purchasing an additional 69 shares in the last quarter. Valued Wealth Advisors LLC boosted its position 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 in 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 worth $27,000 after purchasing an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its holdings 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, Capital Advisors Ltd. LLC lifted its position in shares of Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

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Insiders Place Their Bets

In other news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was 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 directly owns 321,774 shares of the company's stock, valued at approximately $48,629,704.62. This represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,039,318 shares of company stock worth $181,925,602. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $4.19 on Tuesday, hitting $174.17. The company had a trading volume of 217,835 shares, compared to its average volume of 5,879,582. Palo Alto Networks, Inc. has a 52 week low of $135.18 and a 52 week high of $208.39. The company has a market cap of $115.32 billion, a PE ratio of 97.78, a PEG ratio of 5.64 and a beta of 1.07. The business has a 50-day simple moving average of $181.95 and a 200-day simple moving average of $184.92.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PANW shares. 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 research note on Thursday, April 10th. Barclays decreased their price objective on Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Jefferies Financial Group decreased their target price on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. StockNews.com downgraded Palo Alto Networks from a "buy" rating to a "hold" rating in a report on Tuesday, December 24th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $235.00 price target on shares of Palo Alto Networks in a research note on Monday, March 31st. Two 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 given a strong buy rating to the company's stock. According to MarketBeat, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and an average target price of $204.52.

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.