Tyche Wealth Partners LLC Purchases Shares of 2,429 Palo Alto Networks, Inc. (NASDAQ:PANW)

Tyche Wealth Partners LLC acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,429 shares of the network technology company’s stock, valued at approximately $716,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RB Capital Management LLC grew its position in Palo Alto Networks by 19.9% in the first quarter. RB Capital Management LLC now owns 602 shares of the network technology company’s stock worth $375,000 after acquiring an additional 100 shares in the last quarter. Morgens Waterfall Vintiadis & Co. Inc. purchased a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $6,910,000. United Bank boosted its holdings in shares of Palo Alto Networks by 11.7% in the 1st quarter. United Bank now owns 2,822 shares of the network technology company’s stock worth $1,757,000 after purchasing an additional 296 shares during the period. Yousif Capital Management LLC increased its position in shares of Palo Alto Networks by 13.6% during the 1st quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company’s stock valued at $963,000 after purchasing an additional 185 shares during the last quarter. Finally, Prudential PLC purchased a new stake in Palo Alto Networks during the 1st quarter valued at $1,022,000. 79.82% of the stock is currently owned by institutional investors.

Insider Activity

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the sale, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $56,327,194.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the sale, the executive vice president now directly owns 198,105 shares in the company, valued at $56,327,194.65. The disclosure for this sale can be found here. Insiders have sold 167,917 shares of company stock valued at $49,395,553 in the last ninety days. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Susquehanna dropped their price objective on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating for the company in a research note on Monday, February 26th. Sanford C. Bernstein started coverage on shares of Palo Alto Networks in a research note on Thursday, January 18th. They issued an “outperform” rating for the company. BMO Capital Markets dropped their target price on Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Mizuho reduced their price target on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Finally, Citigroup boosted their price objective on Palo Alto Networks from $280.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded up $3.35 during mid-day trading on Wednesday, hitting $278.37. The stock had a trading volume of 422,490 shares, compared to its average volume of 5,580,883. The firm has a market cap of $89.94 billion, a PE ratio of 42.97, a PEG ratio of 3.71 and a beta of 1.19. The company has a 50 day moving average of $300.91 and a two-hundred day moving average of $290.27. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Equities research analysts predict that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.

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.