Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Holdings Boosted by Truvestments Capital LLC

Truvestments Capital LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 138.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,081 shares of the network technology company's stock after purchasing an additional 3,535 shares during the quarter. Truvestments Capital LLC's holdings in Palo Alto Networks were worth $1,106,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its stake in Palo Alto Networks by 97.2% during 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 in the last quarter. Valued Wealth Advisors LLC boosted its stake 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 valued at $26,000 after purchasing an additional 101 shares in the last quarter. Abound Wealth Management boosted its stake in Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake in 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 in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction on Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the sale, the executive vice president now directly owns 365,856 shares of the company's stock, valued at approximately $65,744,323.20. The trade was a 24.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 176,242 shares of Palo Alto Networks stock in a transaction on Monday, January 6th. The shares were sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares of the company's stock, valued at approximately $195,596,176.16. This trade represents a 13.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 over the last quarter. Insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Up 2.9 %

Shares of NASDAQ PANW opened at $178.93 on Wednesday. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39. The firm has a fifty day simple moving average of $185.78 and a 200 day simple moving average of $184.83. The company has a market capitalization of $118.47 billion, a PE ratio of 100.81, a P/E/G ratio of 5.64 and a beta of 1.04.

Remove Ads

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several research reports. Rosenblatt Securities raised their price objective on Palo Alto Networks from $212.50 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $190.00 price objective (down from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Morgan Stanley raised their price objective on Palo Alto Networks from $223.00 to $230.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Piper Sandler raised their price objective on Palo Alto Networks from $165.00 to $192.50 and gave the stock a "neutral" rating in a research note on Thursday, November 21st. Finally, TD Cowen raised their price objective on Palo Alto Networks from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of "Moderate Buy" and a consensus price target of $205.06.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.