Jordan Park Group LLC Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Jordan Park Group LLC grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,452 shares of the network technology company’s stock after buying an additional 726 shares during the period. Jordan Park Group LLC’s holdings in Palo Alto Networks were worth $264,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its position in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Palo Alto Networks in the third quarter valued at $29,000. Strategic Investment Solutions Inc. IL grew its position in shares of Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares during the period. True Wealth Design LLC grew its position in shares of Palo Alto Networks by 2,933.3% in the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 88 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Palo Alto Networks in the third quarter valued at $32,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $205.19 on Thursday. Palo Alto Networks, Inc. has a one year low of $130.04 and a one year high of $208.39. The business’s 50-day simple moving average is $187.11 and its 200 day simple moving average is $182.68. The stock has a market cap of $135.86 billion, a price-to-earnings ratio of 115.60, a price-to-earnings-growth ratio of 5.96 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PANW shares. Truist Financial lifted their price objective on Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a research report on Monday, November 18th. Barclays lowered their price objective on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. KeyCorp lifted their price objective on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Needham & Company LLC boosted their price target on Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $202.70.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 235,492 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $183.32, for a total value of $43,170,393.44. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $199,159,581.28. The trade was a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the sale, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,458,864 shares of company stock valued at $269,397,331 over the last three months. 2.50% 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.