3,228 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by Everpar Advisors LLC

Everpar Advisors LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,228 shares of the network technology company's stock, valued at approximately $952,000.

Other large investors have also recently added to or reduced their stakes in the company. Webster Bank N. A. raised its holdings in 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 in the last quarter. Cedar Mountain Advisors LLC raised its holdings in 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 in the last quarter. MV Capital Management Inc. raised its holdings in Palo Alto Networks by 37.2% during the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company's stock worth $32,000 after purchasing an additional 29 shares in the last quarter. Byrne Asset Management LLC increased its holdings in Palo Alto Networks by 277.8% in the third quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company's stock valued at $32,000 after buying an additional 100 shares in the last quarter. Finally, Alaska Permanent Fund Corp purchased a new position in Palo Alto Networks in the fourth quarter valued at about $42,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PANW. Rosenblatt Securities cut shares of Palo Alto Networks from a "buy" rating to a "neutral" rating and dropped their target price for the company from $290.00 to $265.00 in a report on Wednesday, February 21st. Piper Sandler cut shares of Palo Alto Networks from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $350.00 to $300.00 in a report on Wednesday, February 21st. Barclays dropped their target price on shares of Palo Alto Networks from $400.00 to $345.00 and set an "overweight" rating for the company in a report on Wednesday, February 21st. KeyCorp dropped their target price on shares of Palo Alto Networks from $380.00 to $355.00 and set an "overweight" rating for the company in a report on Thursday, April 18th. Finally, Oppenheimer increased their target price on shares of Palo Alto Networks from $305.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, April 17th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $314.82.

Palo Alto Networks Stock Down 0.8 %

Shares of PANW stock traded down $2.51 during mid-day trading on Wednesday, reaching $303.01. The company's stock had a trading volume of 3,106,097 shares, compared to its average volume of 5,233,852. The company's 50 day simple moving average is $285.75 and its 200-day simple moving average is $294.47. Palo Alto Networks, Inc. has a 12-month low of $186.75 and a 12-month high of $380.84. The firm has a market capitalization of $97.90 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 4.03 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 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 business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In related news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction dated Friday, February 23rd. The stock was 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 owns 25,812 shares of the company's stock, valued at $7,230,715.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Palo Alto Networks news, 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 transaction of $523,002.71. Following the transaction, the president now directly owns 25,812 shares in the company, valued at approximately $7,230,715.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the completion of the sale, the executive vice president now directly owns 1,295,567 shares of the company's stock, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 280,193 shares of company stock valued at $80,670,132. 3.30% of the stock is currently owned by insiders.

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.

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