Cloud Capital Management LLC Acquires Shares of 1,383 Palo Alto Networks, Inc. (NASDAQ:PANW)

Cloud Capital Management LLC acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,383 shares of the network technology company's stock, valued at approximately $235,000.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock worth $1,230,000 after purchasing an additional 4,031 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in Palo Alto Networks by 115.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock valued at $8,004,000 after buying an additional 23,586 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in Palo Alto Networks by 215.8% during the 4th quarter. Proficio Capital Partners LLC now owns 2,416 shares of the network technology company's stock worth $440,000 after buying an additional 1,651 shares during the last quarter. Dana Investment Advisors Inc. lifted its holdings in Palo Alto Networks by 98.7% during the 4th quarter. Dana Investment Advisors Inc. now owns 4,622 shares of the network technology company's stock worth $841,000 after buying an additional 2,296 shares during the last quarter. Finally, One Capital Management LLC grew its position in shares of Palo Alto Networks by 18.8% in the 4th quarter. One Capital Management LLC now owns 3,128 shares of the network technology company's stock worth $569,000 after acquiring an additional 494 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $201.50 on Friday. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The firm has a market cap of $134.36 billion, a P/E ratio of 115.14, a PEG ratio of 5.63 and a beta of 0.97. The stock has a fifty day moving average price of $193.80 and a two-hundred day moving average price of $185.42.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter last year, the business posted $0.66 earnings per share. The company's quarterly revenue was up 15.3% on a year-over-year basis. On average, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the topic of several research reports. Guggenheim reissued a "sell" rating and set a $130.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. KeyCorp reiterated an "overweight" rating and set a $220.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Truist Financial reduced their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Northland Securities decreased their price target on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a report on Wednesday, May 21st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 800 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $201.05, for a total transaction of $160,840.00. Following the completion of the sale, the chief accounting officer directly owned 42,033 shares of the company's stock, valued at $8,450,734.65. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $193.36, for a total value of $19,336,000.00. Following the completion of the transaction, the executive vice president owned 3,343,516 shares of the company's stock, valued at $646,502,253.76. This trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 668,722 shares of company stock worth $121,714,798. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks 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.

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