MIG Capital LLC Makes New $322,000 Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

MIG Capital LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,772 shares of the network technology company's stock, valued at approximately $322,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quadrant Capital Group LLC boosted its position in shares of Palo Alto Networks by 120.9% in the fourth quarter. Quadrant Capital Group LLC now owns 7,168 shares of the network technology company's stock valued at $1,304,000 after acquiring an additional 3,923 shares during the period. Cascades Capital Asset Management LLC raised its position in shares of Palo Alto Networks by 100.0% in the fourth quarter. Cascades Capital Asset Management LLC now owns 3,726 shares of the network technology company's stock valued at $678,000 after buying an additional 1,863 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of Palo Alto Networks by 185.7% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 100,000 shares of the network technology company's stock valued at $18,196,000 after buying an additional 65,000 shares during the period. Hurley Capital LLC bought a new position in Palo Alto Networks during the 4th quarter worth $62,000. Finally, Wedbush Securities Inc. grew its stake in Palo Alto Networks by 106.0% during the fourth quarter. Wedbush Securities Inc. now owns 62,182 shares of the network technology company's stock worth $11,315,000 after buying an additional 31,997 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. BTIG Research cut Palo Alto Networks from a "buy" rating to a "neutral" rating in a report on Wednesday, January 8th. Stephens began coverage on shares of Palo Alto Networks in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $205.00 price target for the company. KeyCorp increased their price target on Palo Alto Networks from $217.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Truist Financial lowered their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Citigroup boosted their target price on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and an average price target of $204.27.

Insider Activity

In other news, CAO Josh D. Paul sold 700 shares of the business's stock in a transaction 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 transaction, the chief accounting officer now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 818,544 shares of company stock worth $147,132,028 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

NASDAQ PANW traded up $2.65 during trading hours on Wednesday, hitting $155.18. The company's stock had a trading volume of 1,965,202 shares, compared to its average volume of 5,896,104. Palo Alto Networks, Inc. has a 12 month low of $134.83 and a 12 month high of $208.39. The company's 50 day simple moving average is $183.39 and its two-hundred day simple moving average is $184.91. The company has a market cap of $102.74 billion, a P/E ratio of 87.25, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. The business 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, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

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.