Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Fiducient Advisors LLC

Fiducient Advisors LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 103.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,564 shares of the network technology company’s stock after purchasing an additional 1,302 shares during the period. Fiducient Advisors LLC’s holdings in Palo Alto Networks were worth $467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Keystone Financial Group grew its position in Palo Alto Networks by 669.1% during the fourth quarter. Keystone Financial Group now owns 7,814 shares of the network technology company’s stock worth $1,504,000 after buying an additional 6,798 shares during the period. Savvy Advisors Inc. boosted its stake in shares of Palo Alto Networks by 425.8% during the 4th quarter. Savvy Advisors Inc. now owns 9,938 shares of the network technology company’s stock worth $1,808,000 after acquiring an additional 8,048 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Palo Alto Networks by 79.2% in the 4th quarter. Synovus Financial Corp now owns 70,970 shares of the network technology company’s stock worth $12,914,000 after acquiring an additional 31,365 shares during the period. Summit Investment Advisors Inc. raised its holdings in Palo Alto Networks by 109.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 27,367 shares of the network technology company’s stock worth $4,980,000 after purchasing an additional 14,288 shares during the last quarter. Finally, Stamos Capital Partners L.P. boosted its position in Palo Alto Networks by 37.4% during the fourth quarter. Stamos Capital Partners L.P. now owns 4,080 shares of the network technology company’s stock worth $742,000 after purchasing an additional 1,110 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.0 %

Shares of Palo Alto Networks stock opened at $168.34 on Friday. The business has a 50-day moving average price of $182.29 and a 200 day moving average price of $184.79. Palo Alto Networks, Inc. has a fifty-two week low of $135.18 and a fifty-two week high of $208.39. The firm has a market cap of $111.46 billion, a P/E ratio of 94.84, a P/E/G ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) 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 analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PANW shares. Citigroup raised their price target on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Hsbc Global Res upgraded shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research report on Thursday. Susquehanna increased 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. Truist Financial cut their price objective on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, BTIG Research cut Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $204.52.

Insider Activity

In related news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the sale, the executive vice president now owns 321,774 shares of the company’s stock, valued at approximately $48,629,704.62. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 939,318 shares of company stock valued at $165,384,602. Company insiders own 2.50% of the company’s stock.

About Palo Alto Networks

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.