Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 125.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,481 shares of the network technology company's stock after purchasing an additional 3,052 shares during the period. Tyche Wealth Partners LLC's holdings in Palo Alto Networks were worth $1,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth about $27,000. Webster Bank N. A. increased its stake in shares of Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company's stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. Financial Synergies Wealth Advisors Inc. increased its stake in shares of Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company's stock valued at $28,000 after purchasing an additional 96 shares in the last quarter. Cedar Mountain Advisors LLC increased its stake in shares of Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company's stock valued at $30,000 after purchasing an additional 47 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Palo Alto Networks in the 4th quarter valued at about $31,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PANW has been the subject of several recent analyst reports. Capital One Financial lowered Palo Alto Networks from an "overweight" rating to an "equal weight" rating and set a $302.00 price target for the company. in a research note on Wednesday, February 21st. Piper Sandler lowered Palo Alto Networks from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $350.00 to $300.00 in a research note on Wednesday, February 21st. Citigroup boosted their price objective on Palo Alto Networks from $280.00 to $335.00 and gave the stock a "buy" rating in a research note on Wednesday, January 10th. Scotiabank cut their price objective on Palo Alto Networks from $363.00 to $337.00 and set a "sector outperform" rating for the company in a research note on Wednesday, February 21st. Finally, Westpark Capital reiterated a "hold" rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $314.82.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $7.98 during trading hours on Thursday, reaching $295.32. 3,261,583 shares of the company were exchanged, compared to its average volume of 5,314,572. Palo Alto Networks, Inc. has a 1 year low of $176.35 and a 1 year high of $380.84. The stock's fifty day moving average is $285.70 and its 200 day moving average is $293.01. The firm has a market cap of $95.42 billion, a PE ratio of 46.14, a PEG ratio of 3.96 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Research analysts expect that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the company's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the sale, the executive vice president now owns 198,105 shares of the company's stock, valued at $56,327,194.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00. Following the transaction, the executive vice president now owns 198,105 shares of the company's stock, valued at $56,327,194.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction on 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 transaction, the president now directly owns 25,812 shares in the company, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,917 shares of company stock valued at $33,959,203. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Company 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.

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