Proactive Wealth Strategies LLC Raises Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Proactive Wealth Strategies LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 103.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,218 shares of the network technology company’s stock after acquiring an additional 10,771 shares during the period. Palo Alto Networks comprises approximately 2.0% of Proactive Wealth Strategies LLC’s holdings, making the stock its 10th largest position. Proactive Wealth Strategies LLC’s holdings in Palo Alto Networks were worth $3,861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Palo Alto Networks by 34,318.2% during the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after purchasing an additional 3,249,594 shares in the last quarter. Jennison Associates LLC lifted its stake in Palo Alto Networks by 83.0% during the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock valued at $1,048,033,000 after acquiring an additional 2,612,474 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Palo Alto Networks by 199.1% during the 4th quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock valued at $333,925,000 after acquiring an additional 1,213,073 shares during the last quarter. Swedbank AB raised its holdings in shares of Palo Alto Networks by 107.8% during the fourth quarter. Swedbank AB now owns 1,634,701 shares of the network technology company’s stock valued at $297,450,000 after purchasing an additional 848,127 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Palo Alto Networks by 104.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,722 shares of the network technology company’s stock valued at $284,353,000 after purchasing an additional 796,964 shares during the period. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction 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 in the company, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 336,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the completion of the transaction, the executive vice president now owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,458,864 shares of company stock valued at $269,397,331. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PANW shares. BTIG Research lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. Loop Capital cut their price target on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group increased their price objective on shares of Palo Alto Networks from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, UBS Group boosted their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $202.70.

Palo Alto Networks Stock Down 1.5 %

PANW stock opened at $205.19 on Thursday. Palo Alto Networks, Inc. has a twelve month low of $130.04 and a twelve month high of $208.39. The stock has a market capitalization of $134.65 billion, a price-to-earnings ratio of 115.60, a price-to-earnings-growth ratio of 5.70 and a beta of 1.14. The firm’s fifty day simple moving average is $187.11 and its two-hundred day simple moving average is $182.68.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 1.75 EPS 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.