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

Bfsg LLC boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 107.9% in the 4th quarter, Holdings Channel reports. The firm owned 38,082 shares of the network technology company’s stock after buying an additional 19,762 shares during the quarter. Bfsg LLC’s holdings in Palo Alto Networks were worth $6,929,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Palo Alto Networks by 3.0% during the third quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock valued at $2,609,486,000 after purchasing an additional 220,900 shares during the period. Jennison Associates LLC grew its holdings in Palo Alto Networks by 83.0% during the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock valued at $1,048,033,000 after purchasing an additional 2,612,474 shares in the last quarter. International Assets Investment Management LLC increased 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 buying an additional 3,249,594 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Palo Alto Networks by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,005,161 shares of the network technology company’s stock worth $685,364,000 after buying an additional 31,595 shares in the last quarter. Finally, Nordea Investment Management AB boosted 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 buying an additional 1,213,073 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PANW has been the topic of a number of analyst reports. Truist Financial lifted their target price on Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. lifted their price objective on Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a report on Monday, November 18th. KeyCorp increased their target price on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Rosenblatt Securities raised their price target on shares of Palo Alto Networks from $212.50 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Westpark Capital reaffirmed a “hold” rating and issued a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.70.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 336,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $193.70, for a total value 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. The trade was a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,458,864 shares of company stock valued at $269,397,331. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Down 1.5 %

PANW stock opened at $205.19 on Thursday. The company has a 50-day simple moving average of $187.11 and a 200 day simple moving average of $182.68. The company has a market capitalization of $134.65 billion, a P/E ratio of 115.60, a PEG ratio of 5.70 and a beta of 1.14. Palo Alto Networks, Inc. has a fifty-two week low of $130.04 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.75 EPS for the current year.

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.