Veridan Wealth LLC Invests $238,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Veridan Wealth LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,301 shares of the network technology company’s stock, valued at approximately $238,000.

Several other large investors also recently modified their holdings of PANW. SJS Investment Consulting Inc. increased its stake in shares of 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 worth $25,000 after purchasing an additional 69 shares during the last quarter. Valued Wealth Advisors LLC grew 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 valued at $26,000 after buying an additional 101 shares in the last quarter. Abound Wealth Management grew its stake 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 buying an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its stake in Palo Alto Networks by 265.0% in the 4th 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 in the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PANW. TD Cowen raised their price target on shares of Palo Alto Networks from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a report on Thursday, November 21st. JPMorgan Chase & Co. raised their price target on shares of Palo Alto Networks from $193.50 to $224.50 and gave the company an “overweight” rating in a report on Monday, November 18th. Loop Capital cut their price target on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a report on Monday, February 10th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.06.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the transaction, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 490,723 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,122,864 shares of company stock valued at $204,315,811 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $187.50 on Friday. Palo Alto Networks, Inc. has a 1 year low of $132.50 and a 1 year high of $208.39. The company’s 50-day moving average is $186.57 and its 200 day moving average is $184.14. The stock has a market capitalization of $124.14 billion, a P/E ratio of 105.63, a P/E/G ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted 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. Research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.