Quantum Private Wealth LLC Acquires 520 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Quantum Private Wealth LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,170 shares of the network technology company’s stock after acquiring an additional 520 shares during the quarter. Quantum Private Wealth LLC’s holdings in Palo Alto Networks were worth $1,525,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Worth Asset Management LLC bought a new position in Palo Alto Networks in the 1st quarter valued at $26,000. First Pacific Financial grew its position in shares of Palo Alto Networks by 421.7% during the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of Palo Alto Networks during the 2nd quarter worth $28,000. Fortis Capital Advisors LLC bought a new position in shares of Palo Alto Networks during the 4th quarter worth $28,000. Finally, Webster Bank N. A. grew its position in shares of Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after buying an additional 85 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of recent research reports. Sanford C. Bernstein initiated coverage on Palo Alto Networks in a research report on Thursday, January 18th. They set an “outperform” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Evercore ISI raised their price objective on Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $330.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Finally, Capital One Financial downgraded Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price objective on the stock. in a research report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.82.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at $67,955,958.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares in the company, valued at $67,955,958.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Stock Up 0.7 %

Shares of Palo Alto Networks stock traded up $1.92 on Wednesday, reaching $276.94. 1,044,362 shares of the stock were exchanged, compared to its average volume of 5,589,898. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84. The firm has a market capitalization of $89.48 billion, a price-to-earnings ratio of 43.26, a PEG ratio of 3.71 and a beta of 1.19. The business has a 50 day moving average price of $300.91 and a two-hundred day moving average price of $290.27.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Research analysts forecast that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

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.