Cache Advisors LLC Acquires New Shares in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cache Advisors LLC acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,597 shares of the network technology company's stock, valued at approximately $4,294,000. Palo Alto Networks comprises 1.6% of Cache Advisors LLC's investment portfolio, making the stock its 14th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of PANW. Grassi Investment Management grew its holdings in Palo Alto Networks by 161.1% during the fourth quarter. Grassi Investment Management now owns 7,910 shares of the network technology company's stock valued at $1,439,000 after purchasing an additional 4,880 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in Palo Alto Networks by 83.5% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 4,458 shares of the network technology company's stock valued at $811,000 after purchasing an additional 2,029 shares during the period. XML Financial LLC grew its holdings in Palo Alto Networks by 129.4% during the fourth quarter. XML Financial LLC now owns 1,562 shares of the network technology company's stock valued at $284,000 after purchasing an additional 881 shares during the period. Advisory Alpha LLC grew its holdings in Palo Alto Networks by 164.9% during the fourth quarter. Advisory Alpha LLC now owns 1,852 shares of the network technology company's stock valued at $337,000 after purchasing an additional 1,153 shares during the period. Finally, Daymark Wealth Partners LLC grew its holdings in Palo Alto Networks by 60.8% during the fourth quarter. Daymark Wealth Partners LLC now owns 2,518 shares of the network technology company's stock valued at $458,000 after purchasing an additional 952 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective for the company in a report on Thursday, April 10th. Truist Financial dropped their price objective on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Guggenheim reissued a "sell" rating and set a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Jefferies Financial Group lifted their price objective on Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, JMP Securities lifted their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $206.40.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 568,962 shares of company stock valued at $96,933,690 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Trading Up 0.4%

Shares of PANW stock traded up $0.71 during midday trading on Tuesday, reaching $187.46. 5,321,823 shares of the stock were exchanged, compared to its average volume of 5,611,755. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The company's 50 day moving average is $178.09 and its two-hundred day moving average is $185.18. The firm has a market cap of $125.00 billion, a PE ratio of 105.61, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The business's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities analysts expect 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.