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

Trifecta Capital Advisors LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 111.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 60,627 shares of the network technology company’s stock after buying an additional 31,997 shares during the quarter. Palo Alto Networks accounts for about 2.2% of Trifecta Capital Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Trifecta Capital Advisors LLC’s holdings in Palo Alto Networks were worth $11,032,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. SJS Investment Consulting Inc. raised its holdings in Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after purchasing an additional 69 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings 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 purchasing an additional 41 shares during the last quarter. Valued Wealth Advisors LLC increased its position in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after buying an additional 101 shares in the last quarter. Abound Wealth Management increased its position in Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 72 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC increased its position in Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 106 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler raised their price target on Palo Alto Networks from $165.00 to $192.50 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Guggenheim downgraded Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Monday, January 6th. TD Cowen lifted their price objective on Palo Alto Networks from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. UBS Group lifted their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Rosenblatt Securities lifted their target price on Palo Alto Networks from $212.50 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $204.69.

Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 176,242 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the completion of the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at approximately $195,596,176.16. This represents a 13.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at $8,694,210.72. This trade 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 1,122,864 shares of company stock valued at $204,315,811 over the last three months. 2.50% of the stock is owned by insiders.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $190.39 on Tuesday. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39. The business’s 50-day simple moving average is $186.85 and its 200 day simple moving average is $183.92. The stock has a market cap of $126.06 billion, a price-to-earnings ratio of 107.26, a price-to-earnings-growth ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last announced 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 firm had revenue of $2.26 billion during 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%. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 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.