Ewa LLC Purchases Shares of 673 Palo Alto Networks, Inc. (NASDAQ:PANW)

Ewa LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 673 shares of the network technology company’s stock, valued at approximately $198,000.

Other large investors have also recently added to or reduced their stakes in the company. First Pacific Financial raised its holdings in shares of Palo Alto Networks by 421.7% in the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Webster Bank N. A. raised its holdings in shares of 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 worth $29,000 after buying an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC raised its holdings in shares of Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after buying an additional 47 shares in the last quarter. Byrne Asset Management LLC raised its holdings in shares of Palo Alto Networks by 277.8% in the 3rd quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Finally, MV Capital Management Inc. raised its holdings in shares of Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.7 %

Shares of NASDAQ:PANW traded up $2.17 during midday trading on Monday, reaching $293.59. The company had a trading volume of 2,260,326 shares, compared to its average volume of 5,383,418. The business’s 50 day moving average price is $287.61 and its 200 day moving average price is $292.58. The stock has a market cap of $94.86 billion, a PE ratio of 45.97, a P/E/G ratio of 3.96 and a beta of 1.19. Palo Alto Networks, Inc. has a 1-year low of $176.30 and a 1-year high of $380.84.

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

Analyst Upgrades and Downgrades

PANW has been the topic of a number of research analyst reports. Piper Sandler lowered Palo Alto Networks from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $350.00 to $300.00 in a research report on Wednesday, February 21st. Northland Securities lowered Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price objective on the stock. in a research report on Wednesday, February 21st. BMO Capital Markets decreased their price objective on Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Loop Capital lowered Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research report on Wednesday, February 21st. Finally, Barclays decreased their price objective on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Eleven equities research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Insider Activity

In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00. Following the transaction, the executive vice president now owns 198,105 shares of the company’s stock, valued at $56,327,194.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the sale, the president now directly owns 25,812 shares in the company, valued at $7,230,715.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the sale, the executive vice president now owns 198,105 shares of the company’s stock, valued at $56,327,194.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,917 shares of company stock valued at $33,959,203. 3.30% of the stock is owned by insiders.

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.