Nicholas Hoffman & Company LLC. Has $908,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Nicholas Hoffman & Company LLC. lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 97.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,990 shares of the network technology company’s stock after acquiring an additional 2,465 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Palo Alto Networks were worth $908,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PANW. SJS Investment Consulting Inc. raised its holdings in 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 buying an additional 69 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares during the period. Valued Wealth Advisors LLC raised its holdings in Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after buying an additional 101 shares during the period. Abound Wealth Management raised its holdings in Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 72 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC raised its holdings in Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 106 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

PANW opened at $208.28 on Wednesday. Palo Alto Networks, Inc. has a fifty-two week low of $130.04 and a fifty-two week high of $208.35. The company has a market capitalization of $136.67 billion, a P/E ratio of 54.24, a P/E/G ratio of 5.36 and a beta of 1.14. The stock has a fifty day moving average of $186.84 and a 200-day moving average of $182.29.

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, topping analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PANW has been the topic of several research analyst reports. Evercore ISI dropped their target price on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Hsbc Global Res downgraded shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Friday, November 22nd. Guggenheim downgraded shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Monday, January 6th. Susquehanna lifted their price objective on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Palo Alto Networks from $193.50 to $224.50 and gave the company an “overweight” rating in a report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $202.70.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 336,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the completion of the transaction, the executive vice president now owns 3,643,516 shares of the company’s stock, valued at $705,730,831.62. The trade was a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 99,707 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,458,864 shares of company stock valued at $269,397,331 over the last quarter. 2.50% of the stock is owned by corporate insiders.

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.