Sagespring Wealth Partners LLC Has $1.25 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Sagespring Wealth Partners LLC increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 36.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,298 shares of the network technology company’s stock after buying an additional 1,965 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Palo Alto Networks were worth $1,245,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL boosted its holdings in Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. JDM Financial Group LLC boosted its holdings in Palo Alto Networks by 22.4% in the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock valued at $59,000 after acquiring an additional 59 shares during the last quarter. Adero Partners LLC boosted its holdings in Palo Alto Networks by 4.3% in the first quarter. Adero Partners LLC now owns 1,556 shares of the network technology company’s stock valued at $266,000 after acquiring an additional 64 shares during the last quarter. Snider Financial Group boosted its holdings in Palo Alto Networks by 0.4% in the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock valued at $3,025,000 after acquiring an additional 65 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its stake in Palo Alto Networks by 8.4% in the fourth quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company’s stock valued at $165,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 0.9%

NASDAQ PANW opened at $198.11 on Tuesday. The firm has a market capitalization of $132.10 billion, a P/E ratio of 111.61, a PEG ratio of 5.64 and a beta of 0.97. The business has a fifty day simple moving average of $185.07 and a 200 day simple moving average of $185.04. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the firm posted $0.66 EPS. The business’s revenue was up 15.3% compared to the same quarter last year. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on PANW. Barclays dropped their price target on Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 21st. Jefferies Financial Group boosted their price target on Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Citigroup boosted their price target on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. KeyCorp reissued an “overweight” rating and issued a $220.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, Truist Financial dropped their price target 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. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $208.00.

Insider Activity

In other news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. This represents a 27.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the transaction, the chief executive officer now owns 317,571 shares of the company’s stock, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 789,736 shares of company stock valued at $139,837,528 in the last ninety days. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Company 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.