SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co Invests $1.78 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 9,786 shares of the network technology company's stock, valued at approximately $1,781,000. Palo Alto Networks comprises about 1.8% of SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co's investment portfolio, making the stock its 15th biggest position.

A number of other institutional investors have also added to or reduced their stakes in the stock. Swedbank AB grew its position in Palo Alto Networks by 19.7% during the 3rd quarter. Swedbank AB now owns 786,574 shares of the network technology company's stock worth $268,851,000 after acquiring an additional 129,371 shares during the last quarter. Howard Capital Management Group LLC grew its holdings in shares of Palo Alto Networks by 1.5% during the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company's stock worth $36,316,000 after purchasing an additional 1,619 shares during the last quarter. United Bank increased its stake in shares of Palo Alto Networks by 1.3% in the third quarter. United Bank now owns 6,835 shares of the network technology company's stock valued at $2,336,000 after buying an additional 90 shares during the period. XML Financial LLC raised its holdings in Palo Alto Networks by 15.2% in the 3rd quarter. XML Financial LLC now owns 681 shares of the network technology company's stock valued at $233,000 after buying an additional 90 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its holdings in Palo Alto Networks by 15.8% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 815 shares of the network technology company's stock valued at $279,000 after buying an additional 111 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 176,242 shares of the business's 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 transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $195,596,176.16. The trade was a 13.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 120,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 365,856 shares in the company, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock worth $204,315,811 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Up 2.9 %

Palo Alto Networks stock opened at $178.93 on Wednesday. The firm has a 50 day moving average price of $185.78 and a 200-day moving average price of $184.83. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39. The company has a market capitalization of $118.47 billion, a P/E ratio of 100.81, a P/E/G ratio of 5.64 and a beta of 1.04.

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Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating 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%. Equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

PANW has been the subject of several recent research reports. Oppenheimer restated an "outperform" rating and issued a $225.00 price target on shares of Palo Alto Networks in a research report on Thursday, November 21st. Needham & Company LLC increased their price objective on Palo Alto Networks from $192.50 to $225.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Truist Financial upped their price target on Palo Alto Networks from $200.00 to $212.50 and gave the company a "buy" rating in a research report on Monday, November 18th. Finally, BTIG Research downgraded Palo Alto Networks from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.06.

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.

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