Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 109.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,772 shares of the network technology company’s stock after purchasing an additional 926 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Palo Alto Networks were worth $322,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Palo Alto Networks by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock valued at $2,609,486,000 after purchasing an additional 220,900 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of 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 worth $1,048,033,000 after acquiring an additional 2,612,474 shares during the period. International Assets Investment Management LLC boosted its position in shares of Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after acquiring an additional 3,249,594 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Palo Alto Networks by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,005,161 shares of the network technology company’s stock valued at $685,364,000 after purchasing an additional 31,595 shares during the period. Finally, Nordea Investment Management AB increased its position in Palo Alto Networks by 199.1% during the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock worth $333,925,000 after purchasing an additional 1,213,073 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Palo Alto Networks news, CEO Nikesh Arora sold 490,723 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $198,214,409.80. This represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 336,000 shares of Palo Alto Networks stock in a transaction on Monday, November 25th. The shares were sold at an average price of $193.70, for a total value of $65,081,520.00. Following the transaction, the executive vice president now owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,458,864 shares of company stock valued at $269,397,331. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PANW. Westpark Capital reissued a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. JMP Securities boosted their price target on Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Jefferies Financial Group raised their price objective on Palo Alto Networks from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. BTIG Research lowered Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Finally, Barclays dropped their target price on shares of Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Three 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.70.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $208.28 on Wednesday. The firm has a market capitalization of $136.67 billion, a PE ratio of 54.24, a P/E/G ratio of 5.36 and a beta of 1.14. Palo Alto Networks, Inc. has a 1-year low of $130.04 and a 1-year high of $208.35. The business’s fifty day moving average price is $186.84 and its two-hundred day moving average price is $182.29.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data 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. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. Equities research analysts expect that Palo Alto Networks, Inc. will post 1.74 earnings per share for the current fiscal 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.