Mirabella Financial Services LLP Takes $3.55 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mirabella Financial Services LLP bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 19,522 shares of the network technology company's stock, valued at approximately $3,550,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL raised its stake in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. SJS Investment Consulting Inc. raised its position in Palo Alto Networks by 97.2% in the 4th 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. Rakuten Securities Inc. boosted its stake in Palo Alto Networks by 8.4% in the fourth quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company's stock worth $165,000 after purchasing an additional 70 shares in the last quarter. Cedar Mountain Advisors LLC grew its holdings in shares of Palo Alto Networks by 70.3% during the fourth quarter. Cedar Mountain Advisors LLC now owns 172 shares of the network technology company's stock worth $31,000 after purchasing an additional 71 shares during the last quarter. Finally, Abound Wealth Management increased its stake in shares of Palo Alto Networks by 97.3% in the fourth 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 in the last quarter. 79.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on PANW. Cantor Fitzgerald reissued an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Westpark Capital reissued a "hold" rating and issued a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Evercore ISI reduced their price objective on Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating on the stock in a report on Tuesday, December 31st. Truist Financial lowered their target price on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, UBS Group raised their price target on Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $203.06.

Palo Alto Networks Trading Down 1.2 %

NASDAQ PANW opened at $167.69 on Friday. The firm's fifty day moving average price is $180.06 and its two-hundred day moving average price is $184.86. Palo Alto Networks, Inc. has a 1 year low of $137.60 and a 1 year high of $208.39. The firm has a market capitalization of $111.03 billion, a P/E ratio of 94.47, 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 quarterly 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 analysts' expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $89,532,411.35. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company's stock, valued at $198,214,409.80. This represents a 31.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the sale, the executive vice president now owns 358,197 shares of the company's stock, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,039,318 shares of company stock valued at $181,925,602. 2.50% of the stock is owned by insiders.

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.

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