Mission Creek Capital Partners Inc. Has $2.41 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mission Creek Capital Partners Inc. lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 103.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,225 shares of the network technology company's stock after buying an additional 6,724 shares during the quarter. Mission Creek Capital Partners Inc.'s holdings in Palo Alto Networks were worth $2,406,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PANW. Vanguard Group Inc. increased its holdings in shares of Palo Alto Networks by 104.4% in the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after acquiring an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Palo Alto Networks by 87.8% in the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after acquiring an additional 6,725,148 shares during the last quarter. Norges Bank bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $970,736,000. Capital Research Global Investors increased its holdings in shares of Palo Alto Networks by 83.8% in the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock valued at $1,533,419,000 after acquiring an additional 3,841,359 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Palo Alto Networks by 83.0% in the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock valued at $1,048,033,000 after acquiring an additional 2,612,474 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Price Performance

PANW traded up $0.28 during midday trading on Wednesday, hitting $186.93. 5,904,391 shares of the company's stock traded hands, compared to its average volume of 5,810,636. The company has a market cap of $123.77 billion, a PE ratio of 105.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. The stock's fifty day simple moving average is $176.14 and its 200-day simple moving average is $184.70. Palo Alto Networks, Inc. has a one year low of $142.00 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. On average, research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the sale, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the sale, the executive vice president now owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. The trade was a 2.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,039,318 shares of company stock worth $181,925,602 over the last ninety days. Company insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PANW. Guggenheim downgraded shares of Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target for the company. in a report on Monday, January 6th. Truist Financial dropped their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a report on Thursday, April 10th. Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Finally, BTIG Research cut shares of Palo Alto Networks from a "buy" rating to a "neutral" rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $203.06.

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.