Sunpointe LLC Buys New Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Sunpointe LLC bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,663 shares of the network technology company's stock, valued at approximately $303,000.

Several other hedge funds also recently added to or reduced their stakes in PANW. Capital Advisors Ltd. LLC lifted its stake in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock valued at $26,000 after purchasing an additional 41 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Palo Alto Networks in the third quarter valued at $29,000. Strategic Investment Solutions Inc. IL boosted its stake in shares of Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company's stock worth $29,000 after acquiring an additional 55 shares in the last quarter. True Wealth Design LLC grew its position in shares of Palo Alto Networks by 2,933.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company's stock valued at $31,000 after acquiring an additional 88 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Palo Alto Networks during the 3rd quarter valued at about $32,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares of the company's stock, valued at $8,694,210.72. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nikesh Arora sold 490,723 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,458,864 shares of company stock valued at $269,397,331. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Down 4.1 %

PANW stock traded down $8.11 during mid-day trading on Friday, hitting $190.70. 3,641,747 shares of the company were exchanged, compared to its average volume of 6,316,542. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The firm has a market capitalization of $126.26 billion, a P/E ratio of 107.41, a PEG ratio of 5.82 and a beta of 1.14. The business has a fifty day simple moving average of $187.20 and a 200-day simple moving average of $182.95.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Bank of America upped their price target on Palo Alto Networks from $200.00 to $215.00 and gave the stock a "neutral" rating in a report on Thursday, November 21st. Evercore ISI reduced their target price on Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating for the company in a research note on Tuesday, December 31st. Jefferies Financial Group lifted their price target on shares of Palo Alto Networks from $225.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. TD Cowen boosted their price target on shares of Palo Alto Networks from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Finally, Morgan Stanley increased their price objective on shares of Palo Alto Networks from $223.00 to $230.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $202.70.

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.