Interchange Capital Partners LLC Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Interchange Capital Partners LLC increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 96.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,998 shares of the network technology company’s stock after purchasing an additional 1,964 shares during the period. Interchange Capital Partners LLC’s holdings in Palo Alto Networks were worth $727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in Palo Alto Networks during the third quarter valued at about $29,000. True Wealth Design LLC grew its position in Palo Alto Networks by 2,933.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after acquiring an additional 88 shares during the period. SJS Investment Consulting Inc. grew its position 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 valued at $25,000 after acquiring an additional 69 shares during the period. Valued Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 101 shares in the last quarter. Finally, Abound Wealth Management lifted its stake in shares of 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 purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 99,707 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the sale, the executive vice president now owns 358,197 shares in the company, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction on Monday, February 3rd. The shares were 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 of the company’s stock, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock worth $204,315,811 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PANW. Cantor Fitzgerald restated an “overweight” rating and set a $223.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Westpark Capital restated a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Barclays reduced their price objective on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a research note on Monday, February 10th. Finally, KeyCorp boosted their price target on Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $205.06.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $182.32 on Monday. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The firm has a market capitalization of $120.71 billion, a price-to-earnings ratio of 102.72, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. The business has a 50 day simple moving average of $186.59 and a 200 day simple moving average of $185.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The business 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 analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal 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.