Good Life Advisors LLC Boosts Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Good Life Advisors LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 57.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,167 shares of the network technology company’s stock after purchasing an additional 428 shares during the quarter. Good Life Advisors LLC’s holdings in Palo Alto Networks were worth $212,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Financial Perspectives Inc lifted its stake in Palo Alto Networks by 100.0% during the fourth quarter. Financial Perspectives Inc now owns 732 shares of the network technology company’s stock worth $133,000 after purchasing an additional 366 shares during the last quarter. TKG Advisors LLC lifted its stake in Palo Alto Networks by 193.8% during the fourth quarter. TKG Advisors LLC now owns 2,829 shares of the network technology company’s stock worth $531,000 after purchasing an additional 1,866 shares during the last quarter. Laidlaw Wealth Management LLC lifted its stake in Palo Alto Networks by 93.3% during the fourth quarter. Laidlaw Wealth Management LLC now owns 6,516 shares of the network technology company’s stock worth $1,186,000 after purchasing an additional 3,145 shares during the last quarter. Lyell Wealth Management LP lifted its stake in Palo Alto Networks by 100.5% during the fourth quarter. Lyell Wealth Management LP now owns 158,186 shares of the network technology company’s stock worth $28,784,000 after purchasing an additional 79,305 shares during the last quarter. Finally, Financial Management Network Inc. lifted its stake in Palo Alto Networks by 92.0% during the fourth quarter. Financial Management Network Inc. now owns 5,004 shares of the network technology company’s stock worth $917,000 after purchasing an additional 2,398 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 3.9 %

Shares of NASDAQ PANW opened at $191.03 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39. The business has a 50 day moving average price of $187.20 and a two-hundred day moving average price of $182.95. The firm has a market cap of $126.48 billion, a PE ratio of 107.62, a price-to-earnings-growth ratio of 5.82 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. On average, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on PANW. Citigroup cut their price target on Palo Alto Networks from $216.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a research report on Thursday, November 21st. Westpark Capital reaffirmed a “hold” rating and set a $196.40 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Piper Sandler lifted their price target on Palo Alto Networks from $165.00 to $192.50 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Finally, OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.69.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 336,000 shares of Palo Alto Networks stock in a transaction on Monday, November 25th. The stock was sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the sale, the executive vice president now owns 3,643,516 shares of the company’s stock, valued at $705,730,831.62. The trade was a 8.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares in the company, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,458,864 shares of company stock worth $269,397,331 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

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.