Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by TKG Advisors LLC

TKG Advisors LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 193.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,829 shares of the network technology company’s stock after purchasing an additional 1,866 shares during the quarter. TKG Advisors LLC’s holdings in Palo Alto Networks were worth $531,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Palo Alto Networks by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock worth $2,609,486,000 after purchasing an additional 220,900 shares during the period. Jennison Associates LLC grew its stake in shares of Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock valued at $1,048,033,000 after buying an additional 2,612,474 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after acquiring an additional 3,249,594 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Palo Alto Networks by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,005,161 shares of the network technology company’s stock valued at $685,364,000 after acquiring an additional 31,595 shares during the period. Finally, Nordea Investment Management AB grew its position in Palo Alto Networks by 199.1% in the 4th quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock valued at $333,925,000 after acquiring an additional 1,213,073 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Scotiabank raised their price objective on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Piper Sandler lifted their target price on Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their price target on Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Bank of America lifted their price objective on Palo Alto Networks from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $202.70.

Insider Activity at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the sale, the executive vice president now owns 365,856 shares of the company’s stock, valued at $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 336,000 shares of Palo Alto Networks stock in a transaction on Monday, November 25th. The shares were sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the transaction, the executive vice president now owns 3,643,516 shares in the company, valued at $705,730,831.62. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,458,864 shares of company stock worth $269,397,331. 2.50% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $208.28 on Wednesday. The firm’s 50-day moving average is $186.84 and its two-hundred day moving average is $182.29. The stock has a market capitalization of $136.67 billion, a P/E ratio of 117.34, a P/E/G ratio of 5.70 and a beta of 1.14. Palo Alto Networks, Inc. has a 12-month low of $130.04 and a 12-month high of $208.35.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate 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, analysts forecast that Palo Alto Networks, Inc. will post 1.75 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.