Crew Capital Management Ltd. Acquires New Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Crew Capital Management Ltd. bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,673 shares of the network technology company's stock, valued at approximately $1,083,000. Palo Alto Networks comprises approximately 1.1% of Crew Capital Management Ltd.'s investment portfolio, making the stock its 19th biggest holding.

Several other institutional investors also recently made changes to their positions in PANW. International Assets Investment Management LLC grew its holdings in Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company's stock worth $606,854,000 after buying an additional 2,050,917 shares in the last quarter. Jennison Associates LLC grew its holdings in Palo Alto Networks by 83.1% in the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company's stock worth $771,643,000 after buying an additional 1,187,915 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Palo Alto Networks by 6,453.6% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company's stock worth $102,670,000 after buying an additional 431,228 shares in the last quarter. Railway Pension Investments Ltd grew its holdings in Palo Alto Networks by 463.5% in the 3rd quarter. Railway Pension Investments Ltd now owns 493,053 shares of the network technology company's stock worth $115,591,000 after buying an additional 405,553 shares in the last quarter. Finally, Mirova US LLC bought a new position in Palo Alto Networks in the 4th quarter worth approximately $106,638,000. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Trading Up 0.7 %

Palo Alto Networks stock traded up $1.99 during mid-day trading on Monday, hitting $293.41. 2,980,002 shares of the company's stock were exchanged, compared to its average volume of 5,393,582. The stock has a market cap of $94.80 billion, a P/E ratio of 45.85, a P/E/G ratio of 3.96 and a beta of 1.19. Palo Alto Networks, Inc. has a 1-year low of $176.30 and a 1-year high of $380.84. The stock has a 50 day moving average of $286.15 and a two-hundred day moving average of $292.81.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.97 billion. As a group, research analysts predict that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the company's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now directly owns 25,812 shares in the company, valued at $7,230,715.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the sale, the executive vice president now owns 174,075 shares of the company's stock, valued at approximately $46,659,063. The disclosure for this sale can be found here. Insiders sold 122,917 shares of company stock worth $33,959,203 over the last ninety days. Company insiders own 3.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PANW shares. Royal Bank of Canada increased their price objective on Palo Alto Networks to $420.00 and gave the stock an "overweight" rating in a report on Thursday, February 22nd. Rosenblatt Securities downgraded Palo Alto Networks from a "buy" rating to a "neutral" rating and cut their target price for the stock from $290.00 to $265.00 in a research report on Wednesday, February 21st. Susquehanna cut their target price on Palo Alto Networks from $400.00 to $325.00 and set a "positive" rating for the company in a research report on Monday, February 26th. Wedbush upped their target price on Palo Alto Networks from $350.00 to $425.00 and gave the stock an "outperform" rating in a research report on Friday, February 16th. Finally, Piper Sandler downgraded Palo Alto Networks from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $350.00 to $300.00 in a research report on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $314.82.

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.