Centurion Wealth Management LLC Buys 618 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Centurion Wealth Management LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% in the 4th quarter, HoldingsChannel reports. The firm owned 1,236 shares of the network technology company’s stock after acquiring an additional 618 shares during the quarter. Centurion Wealth Management LLC’s holdings in Palo Alto Networks were worth $225,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. boosted its position 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 acquiring an additional 69 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake in Palo Alto Networks by 246.3% during the fourth 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 during the last quarter. Abound Wealth Management boosted its holdings in shares of 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 purchasing an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its stake in shares of 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 purchasing an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings 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 worth $28,000 after buying an additional 79 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PANW. KeyCorp raised their price objective on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. 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 research note on Monday, November 18th. Evercore ISI lowered their price objective on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a research report on Tuesday, December 31st. UBS Group raised their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, JMP Securities upped their price target on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Trading Up 3.4 %

Palo Alto Networks stock opened at $182.34 on Monday. The firm has a market capitalization of $120.73 billion, a price-to-earnings ratio of 102.73, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. The firm’s fifty day moving average price is $185.63 and its two-hundred day moving average price is $184.93. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly 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. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. On average, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 365,856 shares in the company, valued at $65,744,323.20. This represents a 24.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the sale, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock valued at $204,315,811 over the last 90 days. Insiders own 2.50% of the company’s stock.

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.