Cornerstone Enterprises LLC Raises Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cornerstone Enterprises LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 29.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,674 shares of the network technology company's stock after purchasing an additional 2,690 shares during the period. Palo Alto Networks comprises 1.3% of Cornerstone Enterprises LLC's portfolio, making the stock its 16th biggest holding. Cornerstone Enterprises LLC's holdings in Palo Alto Networks were worth $2,124,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. increased its stake 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 raised its stake in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after purchasing an additional 101 shares in the last quarter. Abound Wealth Management grew its position in Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its position in shares of Palo Alto Networks by 265.0% during 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 purchasing an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake 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 buying an additional 79 shares during the period. 79.82% of the stock is currently owned by institutional investors.

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Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded up $1.64 during midday trading on Monday, reaching $169.98. 5,098,383 shares of the stock were exchanged, compared to its average volume of 5,901,559. Palo Alto Networks, Inc. has a twelve month low of $135.18 and a twelve month high of $208.39. The company has a 50 day simple moving average of $182.29 and a 200 day simple moving average of $184.90. The stock has a market capitalization of $112.54 billion, a P/E ratio of 95.76, a PEG ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates 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 expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Nikesh Arora sold 490,723 shares of the firm'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 transaction of $89,532,411.35. Following the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,039,318 shares of company stock worth $181,925,602 in the last quarter. 2.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $225.00 price target on shares of Palo Alto Networks in a report on Monday, February 10th. Barclays dropped their price objective on shares of Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Truist Financial lowered their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Loop Capital dropped their target price on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. Finally, Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and a consensus target price of $204.52.

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.