Bryce Point Capital LLC Invests $1.82 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bryce Point Capital LLC acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,010 shares of the network technology company's stock, valued at approximately $1,821,000. Palo Alto Networks comprises about 0.5% of Bryce Point Capital LLC's holdings, making the stock its 22nd biggest holding.

A number of other large investors have also bought and sold shares of PANW. SJS Investment Consulting Inc. boosted its position in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock valued at $25,000 after buying an additional 69 shares during the period. Valued Wealth Advisors LLC raised its position in shares of Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after acquiring an additional 101 shares in the last quarter. Abound Wealth Management raised its holdings in Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 79 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

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Palo Alto Networks Stock Performance

Palo Alto Networks stock traded up $1.87 during trading hours on Wednesday, hitting $173.18. The company had a trading volume of 3,338,552 shares, compared to its average volume of 5,881,771. The firm has a market cap of $114.66 billion, a P/E ratio of 97.57, a P/E/G ratio of 5.64 and a beta of 1.04. The company has a 50-day moving average price of $186.72 and a two-hundred day moving average price of $185.38. Palo Alto Networks, Inc. has a 1 year low of $132.50 and a 1 year high of $208.39.

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

Insider Activity

In other Palo Alto Networks news, CEO Nikesh Arora sold 176,242 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $195,596,176.16. This represents a 13.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the sale, the executive vice president now directly owns 365,856 shares of the company's stock, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,122,864 shares of company stock worth $204,315,811. Corporate insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PANW shares. KeyCorp raised their target price on shares of Palo Alto Networks from $217.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Truist Financial cut 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 research report on Monday. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $190.00 target price (down previously from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. BTIG Research downgraded shares of Palo Alto Networks from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded Palo Alto Networks from a "buy" rating to a "hold" rating in a research note on Tuesday, December 24th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.27.

About Palo Alto Networks

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.