AllSquare Wealth Management LLC Boosts Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

AllSquare Wealth Management LLC raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,600 shares of the network technology company’s stock after buying an additional 800 shares during the period. AllSquare Wealth Management LLC’s holdings in Palo Alto Networks were worth $291,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. grew its position in Palo Alto Networks by 94.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company’s stock valued at $2,122,000 after acquiring an additional 5,658 shares during the last quarter. Palogic Value Management L.P. grew its holdings in shares of Palo Alto Networks by 100.0% in the fourth quarter. Palogic Value Management L.P. now owns 4,500 shares of the network technology company’s stock worth $819,000 after purchasing an additional 2,250 shares during the last quarter. Douglass Winthrop Advisors LLC purchased a new position in Palo Alto Networks in the 4th quarter worth about $437,000. Whittier Trust Co. lifted its holdings in Palo Alto Networks by 130.8% during the 4th quarter. Whittier Trust Co. now owns 15,094 shares of the network technology company’s stock valued at $2,746,000 after buying an additional 8,553 shares in the last quarter. Finally, BluePointe Capital Management LLC boosted its position in Palo Alto Networks by 96.3% in the 4th quarter. BluePointe Capital Management LLC now owns 6,842 shares of the network technology company’s stock valued at $1,245,000 after buying an additional 3,356 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Palo Alto Networks from $212.50 to $217.50 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Loop Capital lowered their target price on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Rosenblatt Securities increased their price target on Palo Alto Networks from $212.50 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada restated an “outperform” rating and issued a $225.00 price objective on shares of Palo Alto Networks in a report on Monday, February 10th. Finally, Evercore ISI dropped their target price on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Price Performance

PANW opened at $184.01 on Friday. The firm has a fifty day moving average price of $186.41 and a 200 day moving average price of $185.00. Palo Alto Networks, Inc. has a 1 year low of $132.50 and a 1 year high of $208.39. The stock has a market cap of $121.83 billion, a P/E ratio of 103.67, a P/E/G ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last posted its 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 analysts’ expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the sale, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at $65,744,323.20. The trade was a 24.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Josh D. Paul sold 700 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is owned by corporate insiders.

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.