Fiduciary Alliance LLC Makes New $29,000 Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fiduciary Alliance LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 207 shares of the network technology company’s stock, valued at approximately $29,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. RB Capital Management LLC boosted its position in shares of Palo Alto Networks by 19.9% in the 1st quarter. RB Capital Management LLC now owns 602 shares of the network technology company’s stock worth $375,000 after purchasing an additional 100 shares in the last quarter. Morgens Waterfall Vintiadis & Co. Inc. acquired a new stake in shares of Palo Alto Networks in the 1st quarter worth $6,910,000. United Bank boosted its position 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 in the last quarter. Yousif Capital Management LLC boosted its position in shares of Palo Alto Networks by 13.6% in the 1st quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company’s stock worth $963,000 after purchasing an additional 185 shares in the last quarter. Finally, Prudential PLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter worth $1,022,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

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Palo Alto Networks Trading Down 0.9 %

NASDAQ:PANW opened at $190.76 on Wednesday. Palo Alto Networks, Inc. has a 12 month low of $132.22 and a 12 month high of $213.63. The stock has a 50 day moving average of $174.42 and a two-hundred day moving average of $163.54. The firm has a market cap of $57.73 billion, a P/E ratio of 2,601.39, a price-to-earnings-growth ratio of 5.07 and a beta of 1.16.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Citigroup raised their price objective on Palo Alto Networks from $195.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Mizuho lifted their price target on Palo Alto Networks from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Scotiabank lifted their price target on Palo Alto Networks from $195.00 to $212.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, February 22nd. UBS Group lifted their price target on Palo Alto Networks from $155.00 to $200.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 22nd. Finally, BMO Capital Markets lifted their price target on Palo Alto Networks from $220.00 to $228.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. Five investment analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.03.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $185.82, for a total transaction of $8,361,900.00. Following the completion of the sale, the executive vice president now directly owns 612,745 shares in the company, valued at approximately $113,860,275.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Nir Zuk sold 26,625 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $138.46, for a total value of $3,686,497.50. Following the completion of the sale, the executive vice president now directly owns 1,882,898 shares in the company, valued at $260,706,057.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $185.82, for a total value of $8,361,900.00. Following the completion of the sale, the executive vice president now owns 612,745 shares of the company’s stock, valued at $113,860,275.90. The disclosure for this sale can be found here. In the last three months, insiders sold 157,644 shares of company stock worth $27,482,009. Corporate insiders own 3.90% of the company’s stock.

About Palo Alto Networks

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.

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