True Wealth Design LLC Has $43,000 Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

True Wealth Design LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 161.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238 shares of the network technology company’s stock after buying an additional 147 shares during the period. True Wealth Design LLC’s holdings in Palo Alto Networks were worth $43,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Palo Alto Networks by 104.4% during the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock worth $11,142,122,000 after purchasing an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Palo Alto Networks by 87.8% during the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock worth $2,611,013,000 after purchasing an additional 6,725,148 shares during the last quarter. Norges Bank acquired a new stake in Palo Alto Networks during the 4th quarter worth approximately $970,736,000. Northern Trust Corp lifted its holdings in Palo Alto Networks by 133.7% during the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock worth $1,427,048,000 after purchasing an additional 4,486,654 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in Palo Alto Networks by 83.8% during the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock worth $1,533,419,000 after purchasing an additional 3,841,359 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PANW has been the subject of several research reports. JMP Securities lifted their price target on Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. UBS Group lifted their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Jefferies Financial Group lifted their price objective on Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley dropped their price objective on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Susquehanna lifted their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.46.

Palo Alto Networks Trading Up 0.0%

NASDAQ PANW opened at $192.98 on Friday. The business’s 50-day moving average price is $177.37 and its two-hundred day moving average price is $185.13. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The firm has a market capitalization of $127.77 billion, a PE ratio of 108.72, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares in the company, valued at approximately $54,854,038.83. The trade was a 41.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares of the company’s stock, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 568,962 shares of company stock valued at $96,933,690 in the last ninety days. 2.50% of the stock is owned by company insiders.

About Palo Alto Networks

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.