Concentrum Wealth Management Increases Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Concentrum Wealth Management lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 102.1% during the 4th quarter, HoldingsChannel reports. The firm owned 2,446 shares of the network technology company’s stock after purchasing an additional 1,236 shares during the quarter. Concentrum Wealth Management’s holdings in Palo Alto Networks were worth $445,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PANW. Howard Capital Management Group LLC boosted its stake in Palo Alto Networks by 1.5% during the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock worth $36,316,000 after buying an additional 1,619 shares during the last quarter. United Bank boosted its position in shares of Palo Alto Networks by 1.3% during the 3rd quarter. United Bank now owns 6,835 shares of the network technology company’s stock valued at $2,336,000 after acquiring an additional 90 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Palo Alto Networks by 128.6% in the third quarter. Kovitz Investment Group Partners LLC now owns 10,452 shares of the network technology company’s stock valued at $3,572,000 after purchasing an additional 5,880 shares during the period. EP Wealth Advisors LLC increased its position in Palo Alto Networks by 966.5% during the third quarter. EP Wealth Advisors LLC now owns 51,002 shares of the network technology company’s stock worth $17,432,000 after purchasing an additional 46,220 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in Palo Alto Networks by 174.4% during the third quarter. XTX Topco Ltd now owns 5,718 shares of the network technology company’s stock worth $1,954,000 after purchasing an additional 3,634 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value 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 $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 818,544 shares of company stock valued at $147,132,028. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $153.57 on Monday. Palo Alto Networks, Inc. has a 12 month low of $132.83 and a 12 month high of $208.39. The firm has a market capitalization of $101.68 billion, a P/E ratio of 86.52, a P/E/G ratio of 5.64 and a beta of 1.07. The company’s fifty day moving average price is $185.60 and its 200 day moving average price is $185.36.

Palo Alto Networks (NASDAQ:PANW) last posted its 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 during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PANW shares. Guggenheim downgraded shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Monday, January 6th. Loop Capital reduced their target price on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Truist Financial lowered their price target on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a report on Monday, March 31st. Jefferies Financial Group reduced their price objective on shares of Palo Alto Networks from $240.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, BTIG Research lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $204.27.

Palo Alto Networks 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.