Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Granite Investment Partners LLC

Granite Investment Partners LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 100.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,816 shares of the network technology company's stock after purchasing an additional 1,908 shares during the quarter. Granite Investment Partners LLC's holdings in Palo Alto Networks were worth $694,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PANW. WealthTrust Axiom LLC increased its holdings in shares of Palo Alto Networks by 100.0% during the fourth quarter. WealthTrust Axiom LLC now owns 4,680 shares of the network technology company's stock valued at $852,000 after acquiring an additional 2,340 shares in the last quarter. Advisors Capital Management LLC grew its position in Palo Alto Networks by 97.6% during the 4th quarter. Advisors Capital Management LLC now owns 340,670 shares of the network technology company's stock worth $61,988,000 after purchasing an additional 168,265 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new position in Palo Alto Networks during the 4th quarter valued at approximately $970,000. Townsquare Capital LLC lifted its stake in shares of Palo Alto Networks by 101.6% during the fourth quarter. Townsquare Capital LLC now owns 72,096 shares of the network technology company's stock worth $13,119,000 after buying an additional 36,330 shares during the period. Finally, Cim Investment Management Inc. grew its holdings in shares of Palo Alto Networks by 96.5% during the fourth quarter. Cim Investment Management Inc. now owns 5,178 shares of the network technology company's stock valued at $942,000 after buying an additional 2,543 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, CAO Josh D. Paul sold 700 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of the 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 $18,191,542.15. Following the transaction, the executive vice president now directly owns 358,197 shares of the company's stock, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,039,318 shares of company stock valued at $181,925,602 in the last quarter. Insiders own 2.50% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on PANW. Truist Financial dropped their price target on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. StockNews.com lowered shares of Palo Alto Networks from a "buy" rating to a "hold" rating in a research note on Tuesday, December 24th. Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Jefferies Financial Group cut their price target on Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Citigroup boosted their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average price target of $204.52.

Palo Alto Networks Stock Up 2.1 %

Shares of PANW traded up $3.57 during midday trading on Tuesday, reaching $173.55. The company had a trading volume of 4,132,206 shares, compared to its average volume of 5,893,758. The firm has a 50 day simple moving average of $181.95 and a 200-day simple moving average of $184.92. The stock has a market cap of $114.91 billion, a PE ratio of 97.78, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 1-year low of $135.18 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates 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, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share 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.