9,000 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Acquired by Arrow Capital Pty Ltd

Arrow Capital Pty Ltd bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,000 shares of the network technology company’s stock, valued at approximately $1,638,000.

A number of other hedge funds also recently bought and sold shares of PANW. CANADA LIFE ASSURANCE Co boosted its holdings in Palo Alto Networks by 97.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 688,564 shares of the network technology company’s stock worth $125,246,000 after purchasing an additional 339,935 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Palo Alto Networks by 82.9% during the 4th quarter. Champlain Investment Partners LLC now owns 746,608 shares of the network technology company’s stock valued at $135,853,000 after purchasing an additional 338,344 shares during the last quarter. Fairfield Bush & CO. boosted its holdings in shares of Palo Alto Networks by 80.2% in the fourth quarter. Fairfield Bush & CO. now owns 5,384 shares of the network technology company’s stock worth $980,000 after buying an additional 2,397 shares during the last quarter. Teca Partners LP grew its position in Palo Alto Networks by 100.0% during the fourth quarter. Teca Partners LP now owns 64,756 shares of the network technology company’s stock valued at $11,783,000 after buying an additional 32,378 shares during the period. Finally, GKV Capital Management Co. Inc. purchased a new stake in Palo Alto Networks during the fourth quarter valued at approximately $364,000. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 490,723 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,039,318 shares of company stock worth $181,925,602. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PANW. BTIG Research lowered Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. KeyCorp boosted their price objective 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. Truist Financial reduced their target price on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Rosenblatt Securities reissued a “buy” rating and set a $235.00 target price on shares of Palo Alto Networks in a research report on Monday, March 31st. Finally, Stephens initiated coverage on shares of Palo Alto Networks in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $205.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $203.91.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $169.76 on Thursday. Palo Alto Networks, Inc. has a 1-year low of $137.60 and a 1-year high of $208.39. The stock has a market cap of $112.40 billion, a price-to-earnings ratio of 95.64, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. The firm has a 50 day simple moving average of $181.19 and a 200-day simple moving average of $184.73.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (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 company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

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.