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

AllSquare Wealth Management LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% in the 4th quarter, according to the company in its most recent 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PANW. Whittier Trust Co. of Nevada Inc. grew its position in Palo Alto Networks by 94.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company’s stock worth $2,122,000 after acquiring an additional 5,658 shares during the period. Palogic Value Management L.P. grew its holdings in shares of Palo Alto Networks by 100.0% during the 4th 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 period. Douglass Winthrop Advisors LLC acquired a new stake in shares of Palo Alto Networks during the 4th quarter worth about $437,000. Whittier Trust Co. raised its holdings in Palo Alto Networks by 130.8% in 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 during the period. Finally, BluePointe Capital Management LLC lifted its position in Palo Alto Networks by 96.3% in the fourth 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 last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $184.01 on Friday. The stock has a market capitalization of $121.83 billion, a price-to-earnings ratio of 103.67, a PEG ratio of 5.64 and a beta of 1.04. The firm’s fifty day simple moving average is $186.41 and its 200-day simple moving average is $185.00. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PANW. UBS Group boosted their price target on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Needham & Company LLC boosted their target price on Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Hsbc Global Res lowered Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 22nd. BMO Capital Markets lifted their price objective on Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Bank of America increased their target price on Palo Alto Networks from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.06.

Insider Activity

In other Palo Alto Networks news, CEO Nikesh Arora sold 235,492 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the sale, the executive vice president now owns 358,197 shares of the company’s stock, valued at $65,353,042.65. This trade represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,122,864 shares of company stock valued at $204,315,811. Company insiders own 2.50% of the company’s stock.

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.