CloudAlpha Capital Management Limited Hong Kong Buys Shares of 33,500 Palo Alto Networks, Inc. (NASDAQ:PANW)

CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 33,500 shares of the network technology company's stock, valued at approximately $9,878,000. Palo Alto Networks accounts for about 0.9% of CloudAlpha Capital Management Limited Hong Kong's portfolio, making the stock its 22nd biggest position.

Other large investors have also recently bought and sold shares of the company. Worth Asset Management LLC bought a new position in shares of Palo Alto Networks during the first quarter worth approximately $26,000. Covestor Ltd increased its holdings in shares of Palo Alto Networks by 61.8% during the first quarter. Covestor Ltd now owns 55 shares of the network technology company's stock worth $35,000 after purchasing an additional 21 shares during the period. Salem Investment Counselors Inc. increased its holdings in shares of Palo Alto Networks by 1,071.4% during the second quarter. Salem Investment Counselors Inc. now owns 82 shares of the network technology company's stock worth $41,000 after purchasing an additional 75 shares during the period. Webster Bank N. A. increased its holdings in shares of Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company's stock worth $29,000 after purchasing an additional 85 shares during the period. Finally, Cedar Mountain Advisors LLC increased its holdings in shares of Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company's stock worth $30,000 after purchasing an additional 47 shares during the period. 79.82% of the stock is owned by institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the sale, the president now owns 25,812 shares of the company's stock, valued at approximately $7,230,715.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares in the company, valued at approximately $46,659,063. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Price Performance

PANW traded up $2.31 during trading on Wednesday, reaching $277.33. 3,168,093 shares of the company's stock were exchanged, compared to its average volume of 5,619,974. Palo Alto Networks, Inc. has a 1 year low of $176.30 and a 1 year high of $380.84. The stock has a market capitalization of $89.61 billion, a P/E ratio of 43.33, a price-to-earnings-growth ratio of 3.71 and a beta of 1.19. The company's fifty day simple moving average is $299.16 and its 200-day simple moving average is $290.18.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.22. The business had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. Equities analysts forecast that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Loop Capital cut shares of Palo Alto Networks from a "buy" rating to a "hold" rating and set a $300.00 target price on the stock. in a report on Wednesday, February 21st. The Goldman Sachs Group lifted their target price on shares of Palo Alto Networks from $274.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Westpark Capital reiterated a "hold" rating on shares of Palo Alto Networks in a report on Monday, January 29th. KeyCorp lowered their target price on shares of Palo Alto Networks from $390.00 to $380.00 and set an "overweight" rating on the stock in a report on Wednesday, February 21st. Finally, Piper Sandler downgraded shares of Palo Alto Networks from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $350.00 to $300.00 in a research report on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $315.46.

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.