Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Position Raised by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,958 shares of the network technology company’s stock after buying an additional 427 shares during the period. Atria Wealth Solutions Inc.’s holdings in Palo Alto Networks were worth $7,949,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PANW. Vanguard Group Inc. raised its stake in shares of Palo Alto Networks by 1.2% during the third quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock valued at $6,215,410,000 after purchasing an additional 304,272 shares in the last quarter. Northern Trust Corp raised its position in Palo Alto Networks by 2.6% in the third quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock worth $804,199,000 after acquiring an additional 86,995 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Palo Alto Networks by 83.1% during the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after acquiring an additional 1,187,915 shares in the last quarter. International Assets Investment Management LLC raised its position 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 buying an additional 2,050,917 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Palo Alto Networks by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,662,820 shares of the network technology company’s stock worth $389,832,000 after acquiring an additional 36,859 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

NASDAQ:PANW traded up $2.47 during trading hours on Friday, hitting $291.26. The stock had a trading volume of 290,979 shares, compared to its average volume of 5,398,395. The company has a 50 day simple moving average of $289.11 and a two-hundred day simple moving average of $291.84. Palo Alto Networks, Inc. has a one year low of $176.30 and a one year high of $380.84. The firm has a market capitalization of $94.11 billion, a price-to-earnings ratio of 45.12, a P/E/G ratio of 4.00 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data 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 net margin of 30.24% and a return on equity of 36.58%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Insider Activity

In related news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was 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 approximately $46,659,063. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the transaction, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,917 shares of company stock valued at $49,395,553. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of analyst reports. Rosenblatt Securities cut Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their price objective for the company from $290.00 to $265.00 in a report on Wednesday, February 21st. Scotiabank decreased their price objective on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 21st. The Goldman Sachs Group increased their target price on Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price target on shares of Palo Alto Networks in a research report on Wednesday, April 17th. Finally, Truist Financial boosted their price objective 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. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.