Evergreen Capital Management LLC Purchases 32,413 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Evergreen Capital Management LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 99.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,086 shares of the network technology company's stock after buying an additional 32,413 shares during the quarter. Evergreen Capital Management LLC's holdings in Palo Alto Networks were worth $11,843,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of PANW. SJS Investment Consulting Inc. lifted its position in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Valued Wealth Advisors LLC lifted its position in 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 worth $26,000 after buying an additional 101 shares in the last quarter. Abound Wealth Management boosted its stake in shares of Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after buying an additional 72 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after acquiring an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in shares of Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 79 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Price Performance

Shares of PANW stock traded down $2.07 on Friday, hitting $167.69. 4,768,742 shares of the company's stock were exchanged, compared to its average volume of 5,880,201. Palo Alto Networks, Inc. has a 12 month low of $137.60 and a 12 month high of $208.39. The company has a 50 day moving average of $180.61 and a 200 day moving average of $184.71. The stock has a market cap 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. The company had revenue of $2.26 billion for 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%. Sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PANW shares. Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. UBS Group raised their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Susquehanna upped their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a research report on Tuesday, February 18th. Truist Financial decreased their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, StockNews.com lowered shares of Palo Alto Networks from a "buy" rating to a "hold" rating in a research note on Tuesday, December 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $203.06.

Insider Activity

In related news, CAO Josh D. Paul sold 700 shares of the firm'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 completion of the transaction, the chief accounting officer now owns 47,976 shares in the company, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. The trade was a 2.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,039,318 shares of company stock worth $181,925,602. Insiders own 2.50% of the company's stock.

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.