Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Lifted by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 116.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,589 shares of the network technology company's stock after acquiring an additional 3,007 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Palo Alto Networks were worth $1,017,000 at the end of the most recent quarter.

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

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Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. 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 report on Monday, March 31st. Westpark Capital reissued a "hold" rating and set a $196.40 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Loop Capital cut their target price on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. KeyCorp lifted their target price on Palo Alto Networks from $217.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Finally, Guggenheim downgraded Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price objective on the stock. in a report on Monday, January 6th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $204.27.

Palo Alto Networks Trading Up 1.4 %

Palo Alto Networks stock traded up $2.21 during mid-day trading on Wednesday, reaching $154.74. The company's stock had a trading volume of 1,700,960 shares, compared to its average volume of 5,895,258. The firm has a market cap of $102.45 billion, a price-to-earnings ratio of 87.38, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a twelve month low of $134.83 and a twelve month high of $208.39. The business has a 50 day moving average price of $183.39 and a 200-day moving average price of $184.91.

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

Insider Buying and Selling

In other news, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks stock in a transaction that occurred on 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 of the company's stock, valued at approximately $198,214,409.80. The trade was a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the stock in a transaction that occurred 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 $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 818,544 shares of company stock worth $147,132,028 in the last three months. 2.50% of the stock is owned by insiders.

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.