Lee Danner & Bass Inc. Boosts Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Lee Danner & Bass Inc. grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 283.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,869 shares of the network technology company's stock after purchasing an additional 9,517 shares during the period. Lee Danner & Bass Inc.'s holdings in Palo Alto Networks were worth $2,342,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PANW. SJS Investment Consulting Inc. lifted its position in Palo Alto Networks by 97.2% during 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 period. Valued Wealth Advisors LLC raised its stake in shares of Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after buying an additional 101 shares during the last quarter. Abound Wealth Management lifted its holdings 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 buying an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Palo Alto Networks by 265.0% in 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 last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in Palo Alto Networks by 102.6% during the fourth 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 during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the sale, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. This trade represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,122,864 shares of company stock valued at $204,315,811 over the last quarter. 2.50% of the stock is owned by insiders.

Palo Alto Networks Trading Up 2.8 %

Palo Alto Networks stock traded up $5.16 during midday trading on Tuesday, hitting $189.95. 5,336,425 shares of the stock were exchanged, compared to its average volume of 5,737,396. The stock's 50-day simple moving average is $186.92 and its 200 day simple moving average is $185.23. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39. The stock has a market capitalization of $125.77 billion, a price-to-earnings ratio of 107.01, a PEG ratio of 5.64 and a beta of 1.04.

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

Analyst Ratings Changes

PANW has been the subject of a number of analyst reports. Barclays decreased their price target on Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Jefferies Financial Group boosted their target price on shares of Palo Alto Networks from $225.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Scotiabank raised their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a research report on Tuesday, January 21st. UBS Group upped their price objective on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $190.00 target price (down from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $205.06.

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.