Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 111.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,627 shares of the network technology company’s stock after acquiring an additional 31,997 shares during the period. Palo Alto Networks accounts for 2.2% of Trifecta Capital Advisors LLC’s holdings, making the stock its 14th largest position. Trifecta Capital Advisors LLC’s holdings in Palo Alto Networks were worth $11,032,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SJS Investment Consulting Inc. boosted its stake 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 last quarter. Capital Advisors Ltd. LLC lifted its position 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 worth $26,000 after buying an additional 41 shares in the last quarter. Valued Wealth Advisors LLC lifted its position in Palo Alto Networks by 246.3% during 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 in the last quarter. Abound Wealth Management lifted its position in Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 72 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in 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 worth $27,000 after buying an additional 106 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 490,723 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at $65,353,042.65. The trade was a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,122,864 shares of company stock worth $204,315,811 in the last quarter. 2.50% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $190.39 on Tuesday. The stock’s 50-day moving average is $186.85 and its two-hundred day moving average is $183.92. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39. The company has a market cap of $126.06 billion, a price-to-earnings ratio of 107.26, a price-to-earnings-growth ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data 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. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PANW has been the topic of a number of analyst reports. Loop Capital reduced their price objective on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Scotiabank lifted their price objective on Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Piper Sandler lifted their target price on Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. lifted their target price on Palo Alto Networks from $193.50 to $224.50 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Barclays reduced their target price on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. 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 one has assigned a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $204.69.

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.