Blodgett Wealth Advisors LLC Has $569,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Blodgett Wealth Advisors LLC boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 48.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,930 shares of the network technology company’s stock after purchasing an additional 630 shares during the period. Blodgett Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $569,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. GSG Advisors LLC increased its holdings in Palo Alto Networks by 1.0% during the fourth quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock worth $1,478,000 after buying an additional 51 shares during the last quarter. Spirit of America Management Corp NY raised its holdings in shares of Palo Alto Networks by 50.0% in the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after purchasing an additional 100 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its stake in Palo Alto Networks by 46.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock valued at $1,232,000 after purchasing an additional 1,325 shares during the last quarter. Truist Financial Corp grew its holdings in Palo Alto Networks by 148.9% during the third quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock worth $44,497,000 after purchasing an additional 113,534 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in Palo Alto Networks by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock worth $32,143,000 after buying an additional 735 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on PANW. Barclays decreased their price objective on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. KeyCorp decreased their target price on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Rosenblatt Securities downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $290.00 to $265.00 in a report on Wednesday, February 21st. Susquehanna decreased their price target on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a research note on Monday, February 26th. Finally, BMO Capital Markets dropped their price objective on shares of Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $7,629,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares in the company, valued at approximately $46,659,063. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction on 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 owns 27,247 shares in the company, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold 167,917 shares of company stock worth $49,395,553 in the last quarter. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Up 0.9 %

NASDAQ PANW traded up $2.63 during mid-day trading on Friday, hitting $291.42. The company’s stock had a trading volume of 2,246,512 shares, compared to its average volume of 3,487,617. The firm has a market capitalization of $94.16 billion, a price-to-earnings ratio of 45.53, a PEG ratio of 3.93 and a beta of 1.19. The company’s 50 day simple moving average is $287.61 and its 200 day simple moving average is $292.10. 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 posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The company 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, research analysts forecast that Palo Alto Networks, Inc. will post 2.77 EPS 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.