Sanctuary Wealth Management L.L.C. Purchases 171 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Sanctuary Wealth Management L.L.C. lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 342 shares of the network technology company’s stock after purchasing an additional 171 shares during the quarter. Sanctuary Wealth Management L.L.C.’s holdings in Palo Alto Networks were worth $62,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC increased its stake in shares of Palo Alto Networks by 1.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock worth $36,316,000 after acquiring an additional 1,619 shares in the last quarter. United Bank lifted its holdings in shares of Palo Alto Networks by 1.3% during the third quarter. United Bank now owns 6,835 shares of the network technology company’s stock valued at $2,336,000 after purchasing an additional 90 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Palo Alto Networks by 35.4% in the 3rd quarter. Fisher Asset Management LLC now owns 2,592 shares of the network technology company’s stock worth $886,000 after purchasing an additional 677 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Palo Alto Networks by 13,454.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 21,145 shares of the network technology company’s stock worth $7,227,000 after buying an additional 20,989 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in Palo Alto Networks by 13.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 14,134 shares of the network technology company’s stock valued at $4,831,000 after buying an additional 1,700 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In related news, CEO Nikesh Arora sold 176,242 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $180.04, for a total value of $31,730,609.68. Following the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $195,596,176.16. This represents a 13.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the business’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 of the company’s stock, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock worth $204,315,811 over the last 90 days. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Westpark Capital reissued a “hold” rating and issued a $196.40 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. BTIG Research lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Guggenheim downgraded shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Monday, January 6th. Susquehanna raised their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a research report on Tuesday, February 18th. Finally, UBS Group upped their price target on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Trading Down 1.0 %

NASDAQ:PANW opened at $172.76 on Friday. The business’s 50-day moving average is $187.39 and its 200 day moving average is $185.39. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39. The company has a market capitalization of $114.38 billion, a P/E ratio of 97.33, a P/E/G ratio of 5.64 and a beta of 1.04.

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 (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. On average, research analysts forecast 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.