Pathstone Holdings LLC Acquires 34,270 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Pathstone Holdings LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 97.4% in the fourth quarter, Holdings Channel reports. The firm owned 69,439 shares of the network technology company’s stock after purchasing an additional 34,270 shares during the period. Pathstone Holdings LLC’s holdings in Palo Alto Networks were worth $12,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC bought a new position in shares of Palo Alto Networks during the 4th quarter worth $25,000. SJS Investment Consulting Inc. grew its stake in shares of Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares during the period. Strategic Investment Solutions Inc. IL grew its stake in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after acquiring an additional 55 shares during the period. Valued Wealth Advisors LLC grew its stake in shares of Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after acquiring an additional 101 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC grew its stake in shares of Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after acquiring an additional 106 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $192.90 on Friday. The firm has a market cap of $127.72 billion, a P/E ratio of 108.68, a P/E/G ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The business’s 50 day moving average price is $177.09 and its 200-day moving average price is $185.02.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the sale, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. This represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 568,962 shares of company stock worth $96,933,690. 2.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on PANW. Hsbc Global Res upgraded Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. Truist Financial dropped their price objective on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $223.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Westpark Capital reissued a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Finally, Roth Capital started coverage on Palo Alto Networks in a report on Thursday. They issued a “neutral” rating and a $210.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $203.22.

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.