Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Jordan Park Group LLC

Jordan Park Group LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,452 shares of the network technology company’s stock after acquiring an additional 726 shares during the period. Jordan Park Group LLC’s holdings in Palo Alto Networks were worth $264,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC raised its position in Palo Alto Networks by 120.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 24,402 shares of the network technology company’s stock valued at $4,440,000 after purchasing an additional 13,335 shares in the last quarter. Hardy Reed LLC raised its position in Palo Alto Networks by 100.0% in the 4th quarter. Hardy Reed LLC now owns 10,208 shares of the network technology company’s stock valued at $1,857,000 after purchasing an additional 5,104 shares in the last quarter. Handelsbanken Fonder AB raised its position in Palo Alto Networks by 87.3% in the 4th quarter. Handelsbanken Fonder AB now owns 368,414 shares of the network technology company’s stock valued at $67,037,000 after purchasing an additional 171,714 shares in the last quarter. Mcdaniel Terry & Co. raised its position in Palo Alto Networks by 100.0% in the 4th quarter. Mcdaniel Terry & Co. now owns 1,638 shares of the network technology company’s stock valued at $298,000 after purchasing an additional 819 shares in the last quarter. Finally, WealthBridge Capital Management LLC raised its position in Palo Alto Networks by 131.6% in the 4th quarter. WealthBridge Capital Management LLC now owns 3,006 shares of the network technology company’s stock valued at $547,000 after purchasing an additional 1,708 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

PANW opened at $205.19 on Thursday. The business has a 50 day simple moving average of $187.11 and a 200-day simple moving average of $182.68. The stock has a market capitalization of $135.86 billion, a P/E ratio of 115.60, a P/E/G ratio of 5.96 and a beta of 1.14. Palo Alto Networks, Inc. has a 12 month low of $130.04 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) 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. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Research analysts anticipate that Palo Alto Networks, Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PANW. Truist Financial increased 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. JMP Securities increased their price target on Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective on shares of Palo Alto Networks in a report on Thursday, November 21st. Scotiabank increased their price objective on Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Finally, Susquehanna increased their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $202.70.

Insider Buying and Selling

In related news, 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 transaction of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nir Zuk sold 336,000 shares of Palo Alto Networks stock in a transaction on Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the transaction, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at approximately $705,730,831.62. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,458,864 shares of company stock valued at $269,397,331. 2.50% of the stock is owned by insiders.

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.