1248 Management LLC Buys New Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

1248 Management LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,536 shares of the network technology company's stock, valued at approximately $1,371,000.

Several other hedge funds have also recently bought and sold shares of PANW. Acorn Financial Advisory Services Inc. ADV boosted its position in Palo Alto Networks by 91.8% during the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 6,467 shares of the network technology company's stock valued at $1,177,000 after purchasing an additional 3,096 shares during the last quarter. Meiji Yasuda Life Insurance Co increased its stake in shares of Palo Alto Networks by 97.4% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 10,508 shares of the network technology company's stock worth $1,912,000 after purchasing an additional 5,186 shares during the last quarter. West Paces Advisors Inc. raised its holdings in shares of Palo Alto Networks by 50,100.0% during the 4th quarter. West Paces Advisors Inc. now owns 502 shares of the network technology company's stock valued at $91,000 after purchasing an additional 501 shares in the last quarter. Wahed Invest LLC lifted its stake in shares of Palo Alto Networks by 113.0% in the 4th quarter. Wahed Invest LLC now owns 15,932 shares of the network technology company's stock valued at $2,899,000 after purchasing an additional 8,452 shares during the last quarter. Finally, South Plains Financial Inc. bought a new stake in Palo Alto Networks in the fourth quarter worth $761,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares of the company's stock, valued at $586,132,981.56. The trade was a 2.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares of the company's stock, valued at $48,629,704.62. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 448,188 shares of company stock worth $74,074,795 over the last three months. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Up 0.3 %

Shares of PANW traded up $0.56 on Tuesday, hitting $188.69. The company's stock had a trading volume of 2,671,338 shares, compared to its average volume of 5,770,765. The firm has a market capitalization of $124.93 billion, a price-to-earnings ratio of 106.30, a P/E/G ratio of 5.64 and a beta of 1.07. The firm's fifty day moving average price is $175.94 and its 200-day moving average price is $184.68. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) 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 the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PANW has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price target on Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Guggenheim lowered Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Monday, January 6th. Truist Financial reduced their price objective on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a research note on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $203.06.

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.