Atria Wealth Solutions Inc. Has $7.60 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Atria Wealth Solutions Inc. raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 64.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,759 shares of the network technology company’s stock after purchasing an additional 16,405 shares during the period. Atria Wealth Solutions Inc.’s holdings in Palo Alto Networks were worth $7,598,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Swedbank AB increased its holdings in shares of Palo Alto Networks by 19.7% during the third quarter. Swedbank AB now owns 786,574 shares of the network technology company’s stock worth $268,851,000 after buying an additional 129,371 shares in the last quarter. Howard Capital Management Group LLC increased its holdings in shares of Palo Alto Networks by 1.5% during the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock worth $36,316,000 after buying an additional 1,619 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Palo Alto Networks by 5.0% during the third quarter. Whittier Trust Co. now owns 6,541 shares of the network technology company’s stock worth $2,236,000 after buying an additional 310 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of Palo Alto Networks by 11.1% during the third quarter. Raleigh Capital Management Inc. now owns 351 shares of the network technology company’s stock worth $120,000 after buying an additional 35 shares in the last quarter. Finally, Calton & Associates Inc. increased its holdings in shares of Palo Alto Networks by 59.2% during the third quarter. Calton & Associates Inc. now owns 1,094 shares of the network technology company’s stock worth $374,000 after buying an additional 407 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on PANW shares. JPMorgan Chase & Co. upped their price target on shares of Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a report on Monday, November 18th. Morgan Stanley increased their price objective on Palo Alto Networks from $223.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Piper Sandler increased their price objective on Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a report on Thursday, November 21st. Needham & Company LLC increased their price objective on Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, BTIG Research downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.70.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the sale, the executive vice president now owns 365,856 shares in the company, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the sale, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,458,864 shares of company stock worth $269,397,331 in the last quarter. Insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $205.19 on Thursday. The firm has a market cap of $134.65 billion, a price-to-earnings ratio of 115.60, a price-to-earnings-growth ratio of 5.70 and a beta of 1.14. Palo Alto Networks, Inc. has a 52 week low of $130.04 and a 52 week high of $208.39. The firm has a 50-day moving average price of $187.11 and a two-hundred day moving average price of $182.68.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS 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 analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.75 earnings per share for the current year.

Palo Alto Networks Company 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.