Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Mindset Wealth Management LLC

Mindset Wealth Management LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 146.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,110 shares of the network technology company’s stock after acquiring an additional 1,255 shares during the period. Mindset Wealth Management LLC’s holdings in Palo Alto Networks were worth $384,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. SJS Investment Consulting Inc. grew its position in Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after buying an additional 69 shares in the last quarter. Valued Wealth Advisors LLC grew its position in Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after buying an additional 101 shares in the last quarter. Abound Wealth Management grew its position in Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after buying an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after buying an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the transaction, the executive vice president now owns 365,856 shares of the company’s stock, valued at $65,744,323.20. The trade was a 24.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks stock in a transaction 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 sale, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 over the last 90 days. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PANW shares. Needham & Company LLC raised their price objective on shares of Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company raised their price objective on shares of Palo Alto Networks from $208.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Piper Sandler raised their target price on shares of Palo Alto Networks from $165.00 to $192.50 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Thursday, November 21st. Finally, TD Cowen raised their target price on shares of Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Price Performance

Shares of PANW opened at $184.01 on Friday. The business has a 50-day moving average of $186.41 and a 200-day moving average of $185.00. Palo Alto Networks, Inc. has a 1 year low of $132.50 and a 1 year high of $208.39. The company has a market capitalization of $121.83 billion, a price-to-earnings ratio of 103.67, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last released its 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 during the quarter, compared to analysts’ expectations of $2.24 billion. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.