Spahn Wealth & Retirement LLC Buys Shares of 31,505 Palo Alto Networks, Inc. (NASDAQ:PANW)

Spahn Wealth & Retirement LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 31,505 shares of the network technology company's stock, valued at approximately $5,733,000. Palo Alto Networks makes up approximately 3.8% of Spahn Wealth & Retirement LLC's holdings, making the stock its 11th biggest holding.

A number of other hedge funds have also bought and sold shares of PANW. SJS Investment Consulting Inc. boosted its holdings 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 acquiring an additional 69 shares during the period. Valued Wealth Advisors LLC lifted its holdings 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 worth $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% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC grew its holdings 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 buying an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in shares of 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 valued at $28,000 after buying an additional 79 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $190.00 price objective (down previously from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Truist Financial decreased 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. BTIG Research lowered Palo Alto Networks from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 8th. Guggenheim lowered Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Monday, January 6th. Finally, UBS Group raised their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $204.27.

Insider Activity

In other news, CEO Nikesh Arora sold 176,242 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $180.04, for a total value of $31,730,609.68. Following the transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $195,596,176.16. This trade represents a 13.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the sale, the chief accounting officer now directly owns 47,976 shares of the company's stock, valued at $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,350,278 shares of company stock valued at $243,597,031 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Price Performance

NASDAQ PANW traded down $8.01 during trading hours on Thursday, reaching $165.17. 7,362,460 shares of the company's stock traded hands, compared to its average volume of 5,879,132. The firm has a market cap of $109.36 billion, a PE ratio of 93.05, a PEG ratio of 5.64 and a beta of 1.04. The firm has a 50-day simple moving average of $186.28 and a 200 day simple moving average of $185.24. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39.

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 analysts' consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.