Prossimo Advisors LLC Has $509,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Prossimo Advisors LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 100.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,800 shares of the network technology company's stock after acquiring an additional 1,400 shares during the quarter. Prossimo Advisors LLC's holdings in Palo Alto Networks were worth $509,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. SJS Investment Consulting Inc. increased its position in shares of Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after acquiring an additional 69 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock worth $26,000 after purchasing an additional 41 shares in the last quarter. Valued Wealth Advisors LLC grew its stake in 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 purchasing an additional 101 shares in the last quarter. Abound Wealth Management grew its stake 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 purchasing an additional 72 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC grew its stake in Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 106 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PANW. BTIG Research downgraded Palo Alto Networks from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 8th. KeyCorp lifted their price target on Palo Alto Networks from $217.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Needham & Company LLC lifted their price target on Palo Alto Networks from $192.50 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Truist Financial lifted their target price on Palo Alto Networks from $200.00 to $212.50 and gave the company a "buy" rating in a research note on Monday, November 18th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $202.70.

Insider Activity

In related news, EVP Nir Zuk sold 336,000 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $193.70, for a total value of $65,081,520.00. Following the completion of the sale, the executive vice president now directly owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This represents a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lee Klarich sold 99,707 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the sale, the executive vice president now owns 358,197 shares of the company's stock, valued at $65,353,042.65. This represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,458,864 shares of company stock worth $269,397,331 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Down 3.9 %

Shares of Palo Alto Networks stock traded down $7.78 on Friday, hitting $191.03. 5,451,305 shares of the company traded hands, compared to its average volume of 6,377,549. The company has a 50-day moving average price of $187.20 and a 200 day moving average price of $182.95. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The company has a market cap of $126.48 billion, a PE ratio of 107.62, a PEG 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 net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.24 billion. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.