Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Bigelow Investment Advisors LLC

Bigelow Investment Advisors LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 106.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,658 shares of the network technology company’s stock after purchasing an additional 855 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in Palo Alto Networks were worth $302,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tradewinds LLC. increased its stake in shares of Palo Alto Networks by 1.2% during the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after acquiring an additional 28 shares during the period. Cromwell Holdings LLC boosted its holdings in Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after purchasing an additional 30 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in Palo Alto Networks by 9.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after purchasing an additional 30 shares during the period. Geneva Partners LLC raised its stake in shares of Palo Alto Networks by 0.3% during the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after buying an additional 30 shares in the last quarter. Finally, Klingman & Associates LLC lifted its holdings in shares of Palo Alto Networks by 4.2% in the 3rd quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock valued at $256,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Nir Zuk sold 336,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the sale, the executive vice president now directly owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This trade represents a 8.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 490,723 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $198,214,409.80. This represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,458,864 shares of company stock worth $269,397,331 over the last ninety days. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Trading Up 4.1 %

Shares of Palo Alto Networks stock opened at $208.28 on Wednesday. The business’s fifty day moving average price is $186.84 and its 200 day moving average price is $182.29. Palo Alto Networks, Inc. has a twelve month low of $130.04 and a twelve month high of $208.35. The stock has a market capitalization of $136.67 billion, a P/E ratio of 117.34, a PEG ratio of 5.70 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The business 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, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Guggenheim lowered Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Monday, January 6th. Robert W. Baird upped their price target on shares of Palo Alto Networks from $212.50 to $217.50 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Truist Financial raised their price objective on shares of Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a research note on Monday, November 18th. Northland Securities restated a “market perform” rating and set a $185.00 target price (up from $175.00) on shares of Palo Alto Networks in a research report on Thursday, November 21st. Finally, Hsbc Global Res cut shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Friday, November 22nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.70.

About Palo Alto Networks

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.