Geneos Wealth Management Inc. lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 14.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,502 shares of the network technology company’s stock after selling 928 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Palo Alto Networks were worth $768,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Avondale Wealth Management raised its holdings in shares of Palo Alto Networks by 200.0% in the 3rd quarter. Avondale Wealth Management now owns 150 shares of the network technology company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Emfo LLC raised its holdings in shares of Palo Alto Networks by 200.0% in the 3rd quarter. Emfo LLC now owns 150 shares of the network technology company’s stock worth $25,000 after purchasing an additional 100 shares during the period. JNBA Financial Advisors raised its holdings in Palo Alto Networks by 200.0% during the 3rd quarter. JNBA Financial Advisors now owns 150 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Ten Capital Wealth Advisors LLC raised its holdings in Palo Alto Networks by 200.0% during the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 150 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Finally, Adirondack Trust Co. raised its holdings in Palo Alto Networks by 200.0% during the 3rd quarter. Adirondack Trust Co. now owns 156 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 104 shares during the period. Institutional investors own 81.82% of the company’s stock.
Analyst Upgrades and Downgrades
PANW has been the topic of a number of analyst reports. Piper Sandler boosted their target price on shares of Palo Alto Networks from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, February 22nd. BMO Capital Markets boosted their target price on shares of Palo Alto Networks from $220.00 to $228.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. UBS Group boosted their target price on shares of Palo Alto Networks from $155.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, February 22nd. JPMorgan Chase & Co. boosted their target price on shares of Palo Alto Networks from $195.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, February 22nd. Finally, Loop Capital boosted their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Five equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.92.
Palo Alto Networks Stock Up 1.3 %
Insider Buying and Selling
In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $193.99, for a total transaction of $8,729,550.00. Following the sale, the executive vice president now directly owns 612,745 shares of the company’s stock, valued at approximately $118,866,402.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $193.99, for a total transaction of $8,729,550.00. Following the transaction, the executive vice president now directly owns 612,745 shares of the company’s stock, valued at $118,866,402.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nikesh Arora sold 16,200 shares of Palo Alto Networks stock in a transaction on Friday, March 31st. The stock was sold at an average price of $200.08, for a total value of $3,241,296.00. Following the completion of the sale, the chief executive officer now directly owns 1,190,993 shares of the company’s stock, valued at approximately $238,293,879.44. The disclosure for this sale can be found here. Insiders sold a total of 176,580 shares of company stock valued at $33,641,330 over the last three months. Corporate insiders own 3.90% of the company’s stock.
Palo Alto Networks Company Profile
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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