Avidian Wealth Solutions LLC Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Avidian Wealth Solutions LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,434 shares of the network technology company’s stock after buying an additional 250 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Palo Alto Networks were worth $1,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avalon Trust Co increased its holdings in Palo Alto Networks by 4,111.9% during the 4th quarter. Avalon Trust Co now owns 33,485 shares of the network technology company’s stock valued at $9,874,000 after purchasing an additional 32,690 shares during the period. TCG Advisory Services LLC purchased a new position in Palo Alto Networks during the 4th quarter valued at about $4,804,000. Forte Capital LLC ADV increased its holdings in Palo Alto Networks by 13.9% during the 4th quarter. Forte Capital LLC ADV now owns 2,484 shares of the network technology company’s stock valued at $732,000 after purchasing an additional 304 shares during the period. Vestmark Advisory Solutions Inc. increased its holdings in Palo Alto Networks by 2.6% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,070 shares of the network technology company’s stock valued at $610,000 after purchasing an additional 52 shares during the period. Finally, First National Trust Co increased its holdings in Palo Alto Networks by 418.4% during the 4th quarter. First National Trust Co now owns 23,337 shares of the network technology company’s stock valued at $6,882,000 after purchasing an additional 18,835 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PANW has been the topic of a number of research analyst reports. Piper Sandler downgraded Palo Alto Networks from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $350.00 to $300.00 in a report on Wednesday, February 21st. Redburn Atlantic lifted their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. 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 research report on Wednesday, February 21st. Loop Capital cut Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research report on Wednesday, February 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, April 17th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $314.82.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks 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 sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold 158,917 shares of company stock worth $44,335,843 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $0.89 during trading hours on Friday, hitting $296.21. 3,438,974 shares of the company’s stock traded hands, compared to its average volume of 3,429,938. Palo Alto Networks, Inc. has a 1 year low of $177.09 and a 1 year high of $380.84. The business has a fifty day moving average price of $285.98 and a 200-day moving average price of $293.70. The firm has a market capitalization of $95.71 billion, a P/E ratio of 46.28, a price-to-earnings-growth ratio of 4.03 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

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.