23,486 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 23,486 shares of the network technology company's stock, valued at approximately $4,314,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its stake in Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock valued at $25,000 after purchasing an additional 69 shares in the last quarter. Transce3nd LLC acquired a new stake in Palo Alto Networks during the 4th quarter valued at $25,000. Valued Wealth Advisors LLC increased its holdings in shares of Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after purchasing an additional 101 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after purchasing an additional 55 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC raised its holdings in Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after acquiring an additional 106 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the sale, the chief executive officer now owns 317,571 shares in the company, valued at approximately $54,854,038.83. This represents a 41.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction 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 owns 321,774 shares of the company's stock, valued at $48,629,704.62. The trade was a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 568,962 shares of company stock valued at $96,933,690. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Up 2.6%

Shares of PANW traded up $4.83 during midday trading on Friday, hitting $190.65. The company had a trading volume of 2,886,988 shares, compared to its average volume of 5,577,111. The company's 50 day moving average price is $178.29 and its 200 day moving average price is $185.13. The stock has a market cap of $127.13 billion, a price-to-earnings ratio of 107.53, a PEG ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business posted $0.66 EPS. Palo Alto Networks's revenue was up 15.3% on a year-over-year basis. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Susquehanna lifted their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a report on Tuesday, February 18th. Sanford C. Bernstein set a $225.00 target price on Palo Alto Networks and gave the stock an "outperform" rating in a report on Wednesday, May 21st. TD Securities reiterated a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Westpark Capital reaffirmed a "hold" rating and issued a $196.40 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Finally, Truist Financial dropped their price objective on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

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.