1,025 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,025 shares of the network technology company’s stock, valued at approximately $302,000.

Several other institutional investors also recently made changes to their positions in PANW. MV Capital Management Inc. increased its position in Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after buying an additional 29 shares during the period. Quent Capital LLC increased its holdings in shares of Palo Alto Networks by 15.9% in the 4th quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock worth $69,000 after acquiring an additional 32 shares during the period. Parisi Gray Wealth Management lifted its position in Palo Alto Networks by 2.2% in the 4th quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock valued at $448,000 after purchasing an additional 33 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its position in Palo Alto Networks by 2.3% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock valued at $450,000 after purchasing an additional 34 shares during the last quarter. Finally, Howard Financial Services LTD. boosted its stake in Palo Alto Networks by 3.4% during the 4th quarter. Howard Financial Services LTD. now owns 1,061 shares of the network technology company’s stock valued at $313,000 after purchasing an additional 35 shares during the period. 79.82% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the sale, the executive vice president now owns 198,105 shares in the company, valued at $56,327,194.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 280,193 shares of company stock valued at $80,670,132. 3.30% of the stock is owned by insiders.

Palo Alto Networks Stock Down 2.0 %

Shares of PANW traded down $5.99 during mid-day trading on Thursday, hitting $297.02. 1,796,762 shares of the company’s stock were exchanged, compared to its average volume of 5,195,009. Palo Alto Networks, Inc. has a twelve month low of $186.75 and a twelve month high of $380.84. The firm has a fifty day moving average of $285.75 and a two-hundred day moving average of $294.47. The stock has a market cap of $95.97 billion, a price-to-earnings ratio of 46.49, a P/E/G ratio of 4.03 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. On average, equities analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Redburn Atlantic increased their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. BMO Capital Markets decreased their target price on shares of Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Barclays reduced their price target on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. Truist Financial raised their price objective on shares of Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Finally, Capital One Financial lowered Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target for the company. in a research note on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks 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.