IPG Investment Advisors LLC Has $4.31 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

IPG Investment Advisors LLC grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 23.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,708 shares of the network technology company’s stock after acquiring an additional 4,452 shares during the quarter. Palo Alto Networks accounts for 1.0% of IPG Investment Advisors LLC’s holdings, making the stock its 27th biggest position. IPG Investment Advisors LLC’s holdings in Palo Alto Networks were worth $4,314,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. lifted its position in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after buying an additional 69 shares in the last quarter. Valued Wealth Advisors LLC increased its holdings in shares of Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 101 shares during the last quarter. Abound Wealth Management boosted its holdings in shares of Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after acquiring an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC grew its position in shares of Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in shares of Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 79 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Stock Down 1.0 %

Palo Alto Networks stock opened at $172.76 on Friday. The company has a market capitalization of $114.38 billion, a PE ratio of 97.33, a PEG ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The firm’s fifty day moving average is $187.39 and its 200 day moving average is $185.39.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The firm 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%. Sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PANW. Evercore ISI reduced their target price on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a research report on Tuesday, December 31st. Guggenheim lowered shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Monday, January 6th. KeyCorp lifted their price target on shares of Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Morgan Stanley set a $230.00 price objective on Palo Alto Networks in a report on Tuesday, March 18th. Finally, Jefferies Financial Group raised their price target on Palo Alto Networks from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.06.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 99,707 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $65,353,042.65. The trade was a 21.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nikesh Arora sold 176,242 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $180.04, for a total value of $31,730,609.68. Following the transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $195,596,176.16. The trade was a 13.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is owned by company insiders.

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.