TrinityPoint Wealth LLC Raises Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

TrinityPoint Wealth LLC increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 101.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,382 shares of the network technology company's stock after purchasing an additional 10,255 shares during the quarter. TrinityPoint Wealth LLC's holdings in Palo Alto Networks were worth $3,709,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL raised its stake in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after buying an additional 55 shares during the period. SJS Investment Consulting Inc. raised its stake in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after acquiring an additional 69 shares during the period. Rakuten Securities Inc. raised its stake in Palo Alto Networks by 8.4% during the 4th quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company's stock worth $165,000 after acquiring an additional 70 shares during the period. Cedar Mountain Advisors LLC lifted its holdings in Palo Alto Networks by 70.3% during the fourth quarter. Cedar Mountain Advisors LLC now owns 172 shares of the network technology company's stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Palo Alto Networks by 16.9% in the fourth quarter. Quarry LP now owns 511 shares of the network technology company's stock worth $93,000 after purchasing an additional 74 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Up 0.1%

Shares of PANW stock traded up $0.18 on Tuesday, reaching $194.48. 9,202,119 shares of the company's stock were exchanged, compared to its average volume of 5,679,412. The company's fifty day simple moving average is $178.03 and its 200 day simple moving average is $185.32. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The stock has a market capitalization of $128.77 billion, a PE ratio of 109.57, a P/E/G ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate 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 business's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 earnings per share. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PANW. Truist Financial decreased their price objective 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. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Stephens downgraded Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Susquehanna increased their target price on Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a research report on Tuesday, February 18th. Finally, UBS Group lifted their target price on Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $203.46.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the transaction, the chief executive officer now directly owns 317,571 shares in the company, valued at $54,854,038.83. This trade represents a 41.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 completion of the sale, the executive vice president now owns 321,774 shares of the company's stock, valued at $48,629,704.62. This represents a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 568,962 shares of company stock valued at $96,933,690 in the last three months. Company insiders own 2.50% of the company's stock.

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.