Castellan Group Makes New $2.89 Million Investment in Palo Alto Networks, Inc. $PANW

Key Points

• Castellan Group established a new Q4 position in Palo Alto Networks (NASDAQ:PANW), buying 15,704 shares worth about $2,893,000.
• CEO Nikesh Arora bought 68,085 shares on March 27 for roughly $9.999M (a 24.73% increase in his stake), even as insiders have net sold 30,356 shares over the past 90 days; corporate insiders now own 1.40% of the stock.
• PANW trades near $155.73 with a market cap of $127.08B and a 52‑week range of $139.57–$223.61, and analysts maintain a consensus "Moderate Buy" with an average price target of $209.95 after several recent target cuts.

Castellan Group bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 15,704 shares of the network technology company's stock, valued at approximately $2,893,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PANW. Darwin Wealth Management LLC purchased a new position in Palo Alto Networks during the 2nd quarter valued at $25,000. Winch Advisory Services LLC lifted its holdings in shares of Palo Alto Networks by 96.1% in the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company's stock worth $30,000 after buying an additional 73 shares during the period. Caitlin John LLC bought a new position in shares of Palo Alto Networks in the 3rd quarter worth $31,000. Painted Porch Advisors LLC raised its position in shares of Palo Alto Networks by 72.7% in the 3rd quarter. Painted Porch Advisors LLC now owns 152 shares of the network technology company's stock worth $31,000 after acquiring an additional 64 shares in the last quarter. Finally, Palisade Asset Management LLC bought a new position in shares of Palo Alto Networks in the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 79.82% of the company's stock.

Insider Buying and Selling at Palo Alto Networks

In related news, CEO Nikesh Arora bought 68,085 shares of the firm's stock in a transaction that occurred on Friday, March 27th. The stock was purchased at an average cost of $146.87 per share, for a total transaction of $9,999,643.95. Following the completion of the acquisition, the chief executive officer owned 343,394 shares in the company, valued at approximately $50,434,276.78. This trade represents a 24.73% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Key sold 1,572 shares of Palo Alto Networks stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total value of $272,459.04. Following the completion of the transaction, the director owned 20,000 shares of the company's stock, valued at approximately $3,466,400. This trade represents a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 30,356 shares of company stock valued at $4,981,575. Corporate insiders own 1.40% of the company's stock.

Palo Alto Networks Price Performance

PANW stock opened at $155.73 on Monday. The business has a fifty day moving average of $160.61 and a two-hundred day moving average of $184.49. The stock has a market cap of $127.08 billion, a price-to-earnings ratio of 86.04, a price-to-earnings-growth ratio of 5.62 and a beta of 0.77. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $223.61.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.94 by $0.09. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business posted $0.81 earnings per share. The company's quarterly revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PANW. The Goldman Sachs Group reduced their target price on Palo Alto Networks from $240.00 to $224.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. JPMorgan Chase & Co. lowered their target price on Palo Alto Networks from $225.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, February 19th. New Street Research lowered their price target on Palo Alto Networks from $240.00 to $220.00 and set a "buy" rating on the stock in a research report on Thursday, February 19th. Daiwa Securities Group lowered their price target on Palo Alto Networks from $212.00 to $175.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 24th. Finally, TD Cowen reissued a "buy" rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $209.95.

Palo Alto Networks Company Profile

Palo Alto Networks NASDAQ: PANW is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company's product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.