Centaurus Financial Inc. Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Centaurus Financial Inc. acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,518 shares of the network technology company’s stock, valued at approximately $740,000.

Other institutional investors have also recently bought and sold shares of the company. Avondale Wealth Management raised its holdings in Palo Alto Networks by 200.0% during the third quarter. Avondale Wealth Management now owns 150 shares of the network technology company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Emfo LLC raised its holdings in shares of Palo Alto Networks by 200.0% in the third quarter. Emfo LLC now owns 150 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. JNBA Financial Advisors raised its holdings in shares of Palo Alto Networks by 200.0% in the third quarter. JNBA Financial Advisors now owns 150 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Ten Capital Wealth Advisors LLC raised its holdings in shares of Palo Alto Networks by 200.0% in the third quarter. Ten Capital Wealth Advisors LLC now owns 150 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Finally, Adirondack Trust Co. raised its holdings in shares of Palo Alto Networks by 200.0% in the third quarter. Adirondack Trust Co. now owns 156 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $189.12 on Friday. Palo Alto Networks, Inc. has a 1 year low of $132.22 and a 1 year high of $213.63. The firm has a market cap of $57.23 billion, a PE ratio of 2,701.71, a PEG ratio of 4.90 and a beta of 1.16. The company has a 50 day simple moving average of $166.80 and a two-hundred day simple moving average of $162.55.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 26,625 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $138.46, for a total transaction of $3,686,497.50. Following the completion of the sale, the executive vice president now directly owns 1,882,898 shares in the company, valued at $260,706,057.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Palo Alto Networks news, EVP Nir Zuk sold 26,625 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $138.46, for a total transaction of $3,686,497.50. Following the transaction, the executive vice president now directly owns 1,882,898 shares of the company’s stock, valued at $260,706,057.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 15,639 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $135.88, for a total transaction of $2,125,027.32. Following the transaction, the executive vice president now directly owns 619,266 shares in the company, valued at $84,145,864.08. The disclosure for this sale can be found here. Insiders sold a total of 157,644 shares of company stock worth $27,482,009 over the last three months. 3.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased 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. Oppenheimer increased their target price on shares of Palo Alto Networks from $200.00 to $220.00 in a report on Friday, November 18th. Redburn Partners assumed coverage on shares of Palo Alto Networks in a report on Thursday, December 1st. They issued a “buy” rating and a $270.00 target price for the company. Robert W. Baird increased their target price on shares of Palo Alto Networks from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Finally, Guggenheim downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Tuesday, January 17th. Five research analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $234.77.

Palo Alto Networks Company Profile

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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.