McDonough Capital Management Inc Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

McDonough Capital Management Inc purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,120 shares of the network technology company's stock, valued at approximately $386,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in Palo Alto Networks during the third quarter valued at approximately $1,156,000. Harvest Portfolios Group Inc. bought a new position in Palo Alto Networks in the 3rd quarter worth $24,414,000. Jennison Associates LLC lifted its position in Palo Alto Networks by 50.1% during the third quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company's stock valued at $1,075,718,000 after purchasing an additional 1,050,173 shares in the last quarter. Swiss National Bank lifted its position in Palo Alto Networks by 0.5% during the third quarter. Swiss National Bank now owns 961,000 shares of the network technology company's stock valued at $328,470,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Chartwell Investment Partners LLC bought a new stake in Palo Alto Networks during the third quarter valued at about $3,844,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, 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 completion of the sale, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 176,242 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $180.04, for a total value of $31,730,609.68. Following the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $195,596,176.16. This represents a 13.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,122,864 shares of company stock worth $204,315,811. Company insiders own 2.50% of the company's stock.

Analyst Ratings Changes

PANW has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Palo Alto Networks from $192.50 to $220.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. KeyCorp increased their price objective on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Truist Financial lifted their target price on shares of Palo Alto Networks from $200.00 to $212.50 and gave the company a "buy" rating in a research note on Monday, November 18th. Robert W. Baird upped their target price on shares of Palo Alto Networks from $212.50 to $217.50 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $225.00 price target on shares of Palo Alto Networks in a report on Monday, February 10th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Palo Alto Networks has an average rating of "Moderate Buy" and an average target price of $205.06.

Palo Alto Networks Stock Down 0.1 %

PANW stock opened at $184.28 on Thursday. The firm has a market cap of $122.01 billion, a price-to-earnings ratio of 103.82, a PEG ratio of 5.64 and a beta of 1.14. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39. The business's fifty day simple moving average is $186.34 and its two-hundred day simple moving average is $184.74.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.

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