Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by RB Capital Management LLC

RB Capital Management LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 118.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,442 shares of the network technology company’s stock after acquiring an additional 2,950 shares during the quarter. RB Capital Management LLC’s holdings in Palo Alto Networks were worth $990,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. SJS Investment Consulting Inc. grew its position in shares of Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after buying an additional 69 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth approximately $25,000. Valued Wealth Advisors LLC grew its position in shares of 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. Strategic Investment Solutions Inc. IL grew its position in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC grew its position in shares of 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. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 6.8%

Shares of Palo Alto Networks stock opened at $181.26 on Thursday. The company’s 50-day moving average price is $178.01 and its two-hundred day moving average price is $185.29. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The stock has a market cap of $120.01 billion, a PE ratio of 102.12, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the business earned $0.66 earnings per share. Palo Alto Networks’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $235.00 price target on shares of Palo Alto Networks in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating for the company in a report on Wednesday. Truist Financial decreased their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a report on Monday, March 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a report on Monday. Finally, Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.40.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the sale, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. The trade was a 27.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 568,962 shares of company stock worth $96,933,690. 2.50% of the stock is owned by corporate insiders.

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.