Tred Avon Family Wealth LLC Invests $2.55 Million in Palo Alto Networks, Inc. $PANW

Tred Avon Family Wealth LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,515 shares of the network technology company’s stock, valued at approximately $2,548,000. Palo Alto Networks makes up 0.9% of Tred Avon Family Wealth LLC’s holdings, making the stock its 25th biggest holding.

Other large investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in shares of Palo Alto Networks during the 2nd quarter worth $25,000. Whipplewood Advisors LLC lifted its stake in shares of Palo Alto Networks by 6,400.0% in the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 128 shares during the period. Briaud Financial Planning Inc purchased a new stake in Palo Alto Networks during the second quarter worth about $28,000. Howard Hughes Medical Institute acquired a new position in Palo Alto Networks during the second quarter worth about $29,000. Finally, MTM Investment Management LLC acquired a new position in Palo Alto Networks during the second quarter worth about $31,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity

In other news, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total transaction of $940,900.00. Following the sale, the executive vice president owned 155,119 shares in the company, valued at $29,190,293.42. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 120,768 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $191.03, for a total value of $23,070,311.04. Following the completion of the transaction, the executive vice president owned 298,887 shares of the company’s stock, valued at $57,096,383.61. The trade was a 28.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 382,016 shares of company stock worth $76,386,460 in the last three months. 1.40% of the stock is owned by insiders.

Palo Alto Networks Stock Down 0.0%

PANW opened at $187.66 on Friday. The firm has a market cap of $130.80 billion, a P/E ratio of 118.77, a PEG ratio of 4.47 and a beta of 0.76. The business’s fifty day simple moving average is $191.35 and its 200 day simple moving average is $195.67. Palo Alto Networks, Inc. has a 52 week low of $144.15 and a 52 week high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the firm earned $1.56 EPS. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on PANW. Royal Bank Of Canada boosted their price target on Palo Alto Networks from $232.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Palo Alto Networks in a report on Monday, November 24th. JMP Securities upped their target price on Palo Alto Networks from $212.00 to $250.00 and gave the company a “market outperform” rating in a report on Monday, October 27th. TD Cowen raised their price target on Palo Alto Networks from $230.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Evercore ISI boosted their price objective on shares of Palo Alto Networks from $220.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. Thirty-one equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $229.09.

Palo Alto Networks Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.