Bordeaux Wealth Advisors LLC Buys New Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bordeaux Wealth Advisors LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 965 shares of the network technology company’s stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Webster Bank N. A. grew its holdings in Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after buying an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after acquiring an additional 47 shares during the last quarter. Byrne Asset Management LLC increased its position in Palo Alto Networks by 277.8% during the third quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock worth $32,000 after acquiring an additional 100 shares during the period. MV Capital Management Inc. increased its position in Palo Alto Networks by 37.2% during the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after acquiring an additional 29 shares during the period. Finally, Alaska Permanent Fund Corp acquired a new position in Palo Alto Networks during the 4th quarter valued at $42,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Shares of PANW stock traded up $0.89 during trading hours on Friday, reaching $296.21. The company had a trading volume of 3,436,945 shares, compared to its average volume of 5,292,921. Palo Alto Networks, Inc. has a 1-year low of $177.09 and a 1-year high of $380.84. The firm has a market cap of $95.71 billion, a price-to-earnings ratio of 46.28, a P/E/G ratio of 3.91 and a beta of 1.18. The company has a 50 day moving average of $285.70 and a 200 day moving average of $293.01.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.22. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total value of $10,376,640.00. Following the completion of the transaction, the executive vice president now directly owns 1,295,567 shares in the company, valued at approximately $373,434,232.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,917 shares of company stock worth $44,335,843. 3.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PANW. Sanford C. Bernstein started coverage on shares of Palo Alto Networks in a research report on Thursday, January 18th. They set an “outperform” rating for the company. KeyCorp decreased their price objective on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Northland Securities lowered Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 target price for the company. in a research note on Wednesday, February 21st. Royal Bank of Canada raised their target price on Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Wedbush boosted their price target on shares of Palo Alto Networks from $350.00 to $425.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.82.

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.