Parcion Private Wealth LLC Has $1.30 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Parcion Private Wealth LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 102.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,122 shares of the network technology company's stock after purchasing an additional 3,602 shares during the period. Parcion Private Wealth LLC's holdings in Palo Alto Networks were worth $1,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PANW. SJS Investment Consulting Inc. boosted its position in shares of 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 period. Capital Advisors Ltd. LLC lifted its stake in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock valued at $26,000 after buying an additional 41 shares in the last quarter. Valued Wealth Advisors LLC boosted its holdings in shares of Palo Alto Networks by 246.3% in the fourth 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 during the period. Abound Wealth Management increased its position 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 worth $27,000 after acquiring an additional 72 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Palo Alto Networks by 265.0% during the fourth 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 during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 176,242 shares of Palo Alto Networks stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following 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. The trade was a 13.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 120,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 1,458,864 shares of company stock valued at $269,397,331 over the last ninety days. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Scotiabank raised their price objective on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, January 21st. Bank of America lifted their price target on Palo Alto Networks from $200.00 to $215.00 and gave the company a "neutral" rating in a report on Thursday, November 21st. Needham & Company LLC upped their price target on Palo Alto Networks from $192.50 to $225.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. OTR Global restated a "negative" rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Finally, Truist Financial upped their target price on Palo Alto Networks from $200.00 to $212.50 and gave the company a "buy" rating in a report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average target price of $202.70.

Palo Alto Networks Stock Performance

Shares of PANW traded down $7.78 during trading hours on Friday, reaching $191.03. 5,376,314 shares of the company traded hands, compared to its average volume of 6,326,732. The stock's fifty day moving average is $187.20 and its 200 day moving average is $182.95. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39. The stock has a market cap of $126.48 billion, a P/E ratio of 107.62, a price-to-earnings-growth ratio of 5.82 and a beta of 1.14.

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, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.