Garden State Investment Advisory Services LLC Has $656,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Garden State Investment Advisory Services LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 83.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,603 shares of the network technology company’s stock after buying an additional 1,635 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Palo Alto Networks were worth $656,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PANW. Howard Capital Management Group LLC boosted its position in shares of Palo Alto Networks by 1.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock worth $36,316,000 after purchasing an additional 1,619 shares during the last quarter. M&T Bank Corp boosted its holdings in Palo Alto Networks by 8.6% during the third quarter. M&T Bank Corp now owns 64,737 shares of the network technology company’s stock worth $22,127,000 after buying an additional 5,133 shares during the last quarter. SOA Wealth Advisors LLC. grew its position in shares of Palo Alto Networks by 10.7% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 2,606 shares of the network technology company’s stock worth $891,000 after buying an additional 252 shares during the period. World Investment Advisors LLC increased its stake in shares of Palo Alto Networks by 15.1% in the 3rd quarter. World Investment Advisors LLC now owns 8,528 shares of the network technology company’s stock valued at $2,915,000 after acquiring an additional 1,119 shares during the last quarter. Finally, Sfmg LLC raised its position in shares of Palo Alto Networks by 1.1% in the 3rd quarter. Sfmg LLC now owns 16,836 shares of the network technology company’s stock valued at $5,754,000 after acquiring an additional 189 shares during the period. 79.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PANW. Cantor Fitzgerald restated an “overweight” rating and set a $223.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Truist Financial lowered their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Evercore ISI reduced their target price on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Barclays lowered their price target on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.52.

Palo Alto Networks Stock Up 2.1 %

Shares of NASDAQ:PANW opened at $173.55 on Wednesday. Palo Alto Networks, Inc. has a 12-month low of $135.18 and a 12-month high of $208.39. The business has a 50 day moving average of $181.67 and a 200-day moving average of $184.84. The stock has a market cap of $114.91 billion, a PE ratio of 97.78, a P/E/G ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This represents a 2.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares in the company, valued at $48,629,704.62. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,039,318 shares of company stock worth $181,925,602 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks 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.