Octavia Wealth Advisors LLC Purchases 349 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Octavia Wealth Advisors LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 39.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,235 shares of the network technology company’s stock after purchasing an additional 349 shares during the period. Octavia Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $364,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Palo Alto Networks during the fourth quarter valued at approximately $751,276,000. International Assets Investment Management LLC grew its holdings in Palo Alto Networks by 29,086.9% during the fourth 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 during the period. Moneta Group Investment Advisors LLC acquired a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $204,728,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $85,025,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Palo Alto Networks by 6,453.6% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock valued at $102,670,000 after buying an additional 431,228 shares during the period. 79.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PANW shares. Rosenblatt Securities cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their price target for the company from $290.00 to $265.00 in a report on Wednesday, February 21st. Truist Financial upped their price target on shares of Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Citigroup upped 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. Redburn Atlantic upped their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Northland Securities lowered shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price objective on the stock. in a research report on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.82.

Palo Alto Networks Price Performance

Shares of PANW opened at $275.02 on Wednesday. The firm has a market capitalization of $88.86 billion, a PE ratio of 42.97, a PEG ratio of 3.71 and a beta of 1.19. The company’s 50-day moving average is $300.91 and its 200-day moving average is $290.27. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84.

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

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the sale, the president now owns 25,812 shares in the company, valued at $7,230,715.56. 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.

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.