Crown Wealth Group LLC Buys 787 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Crown Wealth Group LLC grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 101.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,562 shares of the network technology company’s stock after purchasing an additional 787 shares during the quarter. Crown Wealth Group LLC’s holdings in Palo Alto Networks were worth $284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. SJS Investment Consulting Inc. grew its holdings 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 during the period. Valued Wealth Advisors LLC boosted its position in shares of 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 valued at $26,000 after purchasing an additional 101 shares in the last quarter. Abound Wealth Management grew its stake in Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC raised its holdings in Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in Palo Alto Networks by 102.6% during the fourth 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 during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a research report on Monday, November 18th. KeyCorp raised their target price on shares of Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Barclays dropped their price target on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $190.00 price objective (down previously from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group boosted their target price on Palo Alto Networks from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.06.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares in the company, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 235,492 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $199,159,581.28. This trade represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,122,864 shares of company stock valued at $204,315,811. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Price Performance

PANW opened at $189.55 on Thursday. The company has a 50 day simple moving average of $186.60 and a two-hundred day simple moving average of $184.12. The firm has a market cap of $125.50 billion, a P/E ratio of 106.79, a PEG ratio of 5.64 and a beta of 1.14. 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 issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share 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 company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.