Gamco Investors INC. ET AL Has $3.21 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Gamco Investors INC. ET AL lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 100.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,616 shares of the network technology company's stock after acquiring an additional 8,831 shares during the quarter. Gamco Investors INC. ET AL's holdings in Palo Alto Networks were worth $3,205,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PANW. SJS Investment Consulting Inc. increased its holdings in Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Valued Wealth Advisors LLC increased its stake 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 valued at $26,000 after acquiring an additional 101 shares during the last quarter. Abound Wealth Management raised its position in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after acquiring an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its stake in 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 worth $27,000 after acquiring an additional 106 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. grew its holdings in Palo Alto Networks by 100.0% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after purchasing an additional 75 shares during the period. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Down 1.2 %

Shares of PANW traded down $2.07 during midday trading on Friday, reaching $167.69. 4,768,742 shares of the stock were exchanged, compared to its average volume of 5,858,295. The stock's 50 day simple moving average is $180.06 and its 200 day simple moving average is $184.86. Palo Alto Networks, Inc. has a twelve month low of $137.60 and a twelve month high of $208.39. The company has a market cap of $111.03 billion, a P/E ratio of 94.47, a PEG ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly 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. 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 net margin of 14.64% and a return on equity of 21.93%. As a group, analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JMP Securities boosted their price target on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Loop Capital decreased their target price on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating for the company in a research note on Tuesday, January 14th. Susquehanna raised their price target on Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a research report on Tuesday, February 18th. Truist Financial decreased their price objective on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $223.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $203.06.

Insider Buying and Selling

In other news, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the company's 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 sale, the chief accounting officer now owns 47,976 shares of the company's stock, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,039,318 shares of company stock worth $181,925,602. Company insiders own 2.50% of the company's stock.

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.