Praxis Investment Management Inc. Purchases 5,626 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• Praxis Investment Management increased its stake in Palo Alto Networks by 39.8% in Q4, buying 5,626 shares to hold 19,746 shares valued at about $3.64 million.
• Insiders have been net sellers, disposing of 30,356 shares worth roughly $4.98 million over the past 90 days — including Director John P. Key (1,572 shares at $173.32) and EVP Dipak Golechha (5,000 shares at $160.42); insiders now own 1.40% of the company.
• Palo Alto Networks carries a consensus rating of "Moderate Buy" with an average price target of $211.64, and it recently beat quarterly EPS estimates ($1.03 vs. $0.94) on $2.59 billion in revenue.

Praxis Investment Management Inc. grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 39.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,746 shares of the network technology company's stock after purchasing an additional 5,626 shares during the quarter. Praxis Investment Management Inc.'s holdings in Palo Alto Networks were worth $3,637,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Klingman & Associates LLC raised its stake in shares of Palo Alto Networks by 2.2% during the third quarter. Klingman & Associates LLC now owns 2,131 shares of the network technology company's stock worth $434,000 after acquiring an additional 46 shares in the last quarter. PTM Wealth Management LLC boosted its stake in shares of Palo Alto Networks by 4.0% in the 3rd quarter. PTM Wealth Management LLC now owns 1,300 shares of the network technology company's stock valued at $276,000 after purchasing an additional 50 shares in the last quarter. Arlington Trust Co LLC grew its holdings in shares of Palo Alto Networks by 4.8% during the 3rd quarter. Arlington Trust Co LLC now owns 1,088 shares of the network technology company's stock valued at $222,000 after purchasing an additional 50 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in Palo Alto Networks by 39.7% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 176 shares of the network technology company's stock worth $36,000 after purchasing an additional 50 shares during the period. Finally, Harold Davidson & Associates Inc. raised its position in Palo Alto Networks by 5.0% in the 3rd quarter. Harold Davidson & Associates Inc. now owns 1,056 shares of the network technology company's stock worth $215,000 after purchasing an additional 50 shares during the period. Institutional investors own 79.82% of the company's stock.

Insider Activity at Palo Alto Networks

In related news, Director John P. Key sold 1,572 shares of Palo Alto Networks stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total transaction of $272,459.04. Following the completion of the transaction, the director directly owned 20,000 shares of the company's stock, valued at $3,466,400. This trade represents a 7.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $160.42, for a total transaction of $802,100.00. Following the sale, the executive vice president directly owned 150,250 shares in the company, valued at $24,103,105. The trade was a 3.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,356 shares of company stock valued at $4,981,575 over the last ninety days. Insiders own 1.40% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on PANW. Citizens Jmp restated a "market outperform" rating and set a $250.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 18th. DA Davidson set a $190.00 price target on Palo Alto Networks and gave the stock a "buy" rating in a research note on Wednesday, February 18th. Mizuho set a $200.00 price objective on Palo Alto Networks in a research note on Wednesday, February 18th. Wells Fargo & Company lifted their target price on shares of Palo Alto Networks from $200.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Sanford C. Bernstein set a $209.00 price target on shares of Palo Alto Networks and gave the company an "outperform" rating in a research report on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and an average price target of $211.64.

Palo Alto Networks Stock Down 0.2%

Shares of Palo Alto Networks stock opened at $183.68 on Thursday. The business has a 50 day moving average of $164.95 and a 200 day moving average of $180.69. Palo Alto Networks, Inc. has a 52 week low of $139.57 and a 52 week high of $223.61. The company has a market cap of $149.88 billion, a PE ratio of 101.48, a P/E/G ratio of 6.63 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.09. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.58 billion. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 EPS. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 2.14 earnings per share for the current year.

Palo Alto Networks 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.

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