CV Advisors LLC Acquires New Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

CV Advisors LLC acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,562 shares of the network technology company's stock, valued at approximately $648,000. Palo Alto Networks makes up approximately 0.2% of CV Advisors LLC's portfolio, making the stock its 22nd biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC increased its position 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 period. Charles Schwab Investment Management Inc. grew its position in Palo Alto Networks by 109.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,202,926 shares of the network technology company's stock valued at $764,764,000 after buying an additional 2,197,765 shares during the period. Raymond James Financial Inc. purchased a new position in Palo Alto Networks in the fourth quarter valued at $388,155,000. Nordea Investment Management AB raised its position in shares of Palo Alto Networks by 199.1% in the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company's stock worth $333,925,000 after acquiring an additional 1,213,073 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Palo Alto Networks by 91.4% during the 4th quarter. Swiss National Bank now owns 1,839,400 shares of the network technology company's stock worth $334,697,000 after acquiring an additional 878,400 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

PANW has been the topic of several recent analyst reports. BMO Capital Markets increased their price objective on shares of Palo Alto Networks from $195.00 to $212.50 and gave the company an "outperform" rating in a report on Thursday, November 21st. Susquehanna upped their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a report on Tuesday, February 18th. Piper Sandler lifted their target price on Palo Alto Networks from $165.00 to $192.50 and gave the company a "neutral" rating in a research report on Thursday, November 21st. BTIG Research cut Palo Alto Networks from a "buy" rating to a "neutral" rating in a report on Wednesday, January 8th. Finally, UBS Group boosted their price objective on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and an average target price of $205.06.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 235,492 shares of Palo Alto Networks stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the sale, the chief executive officer now owns 1,086,404 shares of the company's stock, valued at $199,159,581.28. The trade was a 17.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the stock in a transaction on 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 approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 over the last 90 days. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Up 2.1 %

Shares of PANW stock traded up $3.92 during mid-day trading on Wednesday, reaching $187.02. The company's stock had a trading volume of 947,265 shares, compared to its average volume of 5,773,685. The company's 50 day simple moving average is $185.89 and its 200-day simple moving average is $184.98. 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 $123.82 billion, a PE ratio of 105.42, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.

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 EPS for the quarter, topping 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 company had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.24 billion. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.