Broadway Wealth Solutions Inc. Makes New $519,000 Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Broadway Wealth Solutions Inc. purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,855 shares of the network technology company’s stock, valued at approximately $519,000. Palo Alto Networks makes up 0.4% of Broadway Wealth Solutions Inc.’s holdings, making the stock its 25th largest position.

Several other institutional investors have also made changes to their positions in the stock. New Age Alpha Advisors LLC raised its holdings in Palo Alto Networks by 156,917.1% in the 4th quarter. New Age Alpha Advisors LLC now owns 54,956 shares of the network technology company’s stock valued at $10,000,000 after acquiring an additional 54,921 shares in the last quarter. Triodos Investment Management BV raised its stake in Palo Alto Networks by 102.0% in the fourth quarter. Triodos Investment Management BV now owns 222,500 shares of the network technology company’s stock valued at $40,486,000 after purchasing an additional 112,350 shares in the last quarter. Norges Bank bought a new stake in Palo Alto Networks during the fourth quarter worth about $970,736,000. Blair William & Co. IL grew its stake in Palo Alto Networks by 101.7% during the fourth quarter. Blair William & Co. IL now owns 1,304,027 shares of the network technology company’s stock worth $237,281,000 after buying an additional 657,597 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Palo Alto Networks by 81.7% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,523 shares of the network technology company’s stock valued at $4,644,000 after buying an additional 11,475 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 176,242 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $180.04, for a total value of $31,730,609.68. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at $195,596,176.16. This trade represents a 13.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is owned by insiders.

Palo Alto Networks Price Performance

NASDAQ PANW opened at $174.44 on Friday. The stock has a market capitalization of $115.50 billion, a price-to-earnings ratio of 98.28, a PEG ratio of 5.64 and a beta of 1.04. The business’s fifty day moving average is $187.47 and its 200-day moving average is $185.31. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PANW has been the subject of several recent analyst reports. Citigroup upped their target price on Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. KeyCorp raised their price objective on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Scotiabank raised their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Evercore ISI decreased their price target 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. Finally, Guggenheim lowered shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $205.06.

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.