332 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by AJOVista LLC

AJOVista LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 332 shares of the network technology company’s stock, valued at approximately $98,000.

Other institutional investors have also modified their holdings of the company. Sapient Capital LLC acquired a new position in Palo Alto Networks during the 4th quarter worth approximately $17,898,000. Axxcess Wealth Management LLC grew its position in Palo Alto Networks by 16.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 6,748 shares of the network technology company’s stock valued at $1,990,000 after purchasing an additional 961 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in Palo Alto Networks by 48.9% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 6,100 shares of the network technology company’s stock worth $1,799,000 after buying an additional 2,002 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Palo Alto Networks by 2.6% during the 4th quarter. M&T Bank Corp now owns 54,608 shares of the network technology company’s stock worth $16,103,000 after buying an additional 1,381 shares during the last quarter. Finally, Merit Financial Group LLC boosted its stake in shares of Palo Alto Networks by 63.4% during the 4th quarter. Merit Financial Group LLC now owns 4,457 shares of the network technology company’s stock worth $1,314,000 after buying an additional 1,730 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PANW. Piper Sandler cut Palo Alto Networks from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $350.00 to $300.00 in a research report on Wednesday, February 21st. The Goldman Sachs Group raised their target price on shares of Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research report on Monday, January 29th. Oppenheimer increased their price target on shares of Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada boosted their price objective on shares of Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Trading Up 0.3 %

NASDAQ PANW traded up $0.89 during trading on Friday, hitting $296.21. 3,438,974 shares of the company’s stock were exchanged, compared to its average volume of 3,429,938. The stock’s 50 day moving average price is $285.98 and its two-hundred day moving average price is $293.25. Palo Alto Networks, Inc. has a fifty-two week low of $177.09 and a fifty-two week high of $380.84. The company has a market cap of $95.71 billion, a PE ratio of 46.28, a P/E/G ratio of 4.03 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Analysts forecast that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In related news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the sale, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the transaction, the executive vice president now owns 1,295,567 shares in the company, valued at $373,434,232.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,917 shares of company stock worth $44,335,843. Insiders own 3.30% of the company’s stock.

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.