Onyx Bridge Wealth Group LLC Has $418,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Onyx Bridge Wealth Group LLC lowered its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 39.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,418 shares of the network technology company’s stock after selling 920 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Palo Alto Networks were worth $418,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PANW. Worth Asset Management LLC acquired a new position in Palo Alto Networks in the first quarter worth approximately $26,000. First Pacific Financial grew its holdings in Palo Alto Networks by 421.7% during the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in Palo Alto Networks during the second quarter valued at approximately $28,000. Fortis Capital Advisors LLC acquired a new position in Palo Alto Networks during the fourth quarter valued at approximately $28,000. Finally, Webster Bank N. A. grew its holdings in Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 1.2 %

PANW stock traded down $3.43 during midday trading on Friday, reaching $277.71. The stock had a trading volume of 4,751,615 shares, compared to its average volume of 3,424,591. The business has a fifty day simple moving average of $295.46 and a two-hundred day simple moving average of $290.40. The firm has a market cap of $89.73 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 3.83 and a beta of 1.19. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. The firm had revenue of $1.98 billion during 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%. On average, equities analysts predict that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the transaction, the executive vice president now owns 198,105 shares in the company, valued at $67,955,958.15. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares in the company, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold a total of 167,917 shares of company stock worth $49,395,553 over the last three months. 3.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PANW has been the topic of several analyst reports. Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price target on the stock. in a report on Wednesday, February 21st. The Goldman Sachs Group increased their price target on Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Citigroup increased their price objective on Palo Alto Networks from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Loop Capital cut Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research report on Wednesday, February 21st. Finally, Evercore ISI increased their price objective on Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have assigned 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 $314.82.

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.