RWA Wealth Partners LLC Has $9.56 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

RWA Wealth Partners LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 32,411 shares of the network technology company’s stock after selling 378 shares during the period. RWA Wealth Partners LLC’s holdings in Palo Alto Networks were worth $9,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Palo Alto Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock worth $6,215,410,000 after buying an additional 304,272 shares in the last quarter. Northern Trust Corp lifted its position in Palo Alto Networks by 2.6% in the 3rd quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock worth $804,199,000 after buying an additional 86,995 shares in the last quarter. Jennison Associates LLC lifted its position in Palo Alto Networks by 83.1% in the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after buying an additional 1,187,915 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Palo Alto Networks by 29,086.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after purchasing an additional 2,050,917 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Palo Alto Networks by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,662,820 shares of the network technology company’s stock valued at $389,832,000 after purchasing an additional 36,859 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares in the company, valued at $46,659,063. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now directly owns 25,812 shares in the company, valued at $7,230,715.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,917 shares of company stock worth $49,395,553. Corporate insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

PANW has been the topic of a number of recent research reports. Citigroup raised their price target on shares of Palo Alto Networks from $280.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Susquehanna cut their price target on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a report on Monday, February 26th. JMP Securities restated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 21st. The Goldman Sachs Group raised their target price on shares of Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $330.00 target price on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Trading Up 1.6 %

PANW stock traded up $4.50 during trading on Monday, hitting $282.21. 2,221,957 shares of the stock traded hands, compared to its average volume of 5,540,911. Palo Alto Networks, Inc. has a one year low of $176.30 and a one year high of $380.84. The stock has a market cap of $91.18 billion, a price-to-earnings ratio of 43.11, a P/E/G ratio of 3.79 and a beta of 1.19. The company has a 50 day simple moving average of $295.46 and a 200 day simple moving average of $291.20.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. As a group, analysts predict that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal 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.