38,444 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Acquired by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 38,444 shares of the network technology company’s stock, valued at approximately $6,995,000.

A number of other large investors have also modified their holdings of PANW. Valley Wealth Managers Inc. boosted its holdings in shares of Palo Alto Networks by 117.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 4,212 shares of the network technology company’s stock worth $766,000 after purchasing an additional 2,278 shares during the last quarter. Bfsg LLC lifted its position in Palo Alto Networks by 107.9% during the fourth quarter. Bfsg LLC now owns 38,082 shares of the network technology company’s stock worth $6,929,000 after buying an additional 19,762 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Palo Alto Networks during the fourth quarter worth $114,000. Braun Stacey Associates Inc. grew its holdings in Palo Alto Networks by 96.0% in the 4th quarter. Braun Stacey Associates Inc. now owns 150,017 shares of the network technology company’s stock valued at $27,297,000 after buying an additional 73,490 shares in the last quarter. Finally, Atria Wealth Solutions Inc. increased its stake in shares of Palo Alto Networks by 64.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 41,759 shares of the network technology company’s stock worth $7,598,000 after acquiring an additional 16,405 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 99,707 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,458,864 shares of company stock worth $269,397,331 in the last quarter. 2.50% of the stock is owned by insiders.

Palo Alto Networks Trading Down 1.5 %

Shares of Palo Alto Networks stock opened at $205.19 on Thursday. The company has a fifty day simple moving average of $187.11 and a 200-day simple moving average of $182.68. The stock has a market cap of $134.65 billion, a price-to-earnings ratio of 115.60, a PEG ratio of 5.70 and a beta of 1.14. Palo Alto Networks, Inc. has a 12-month low of $130.04 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. On average, analysts forecast that Palo Alto Networks, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

PANW has been the subject of a number of analyst reports. HSBC lowered shares of Palo Alto Networks from a “hold” rating to a “reduce” rating and dropped their price objective for the company from $152.00 to $145.50 in a report on Friday, November 22nd. KeyCorp raised their price target on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. StockNews.com cut Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. JMP Securities raised their target price on Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Finally, Hsbc Global Res lowered Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 22nd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.70.

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.