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

Concurrent Investment Advisors LLC grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 120.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 24,402 shares of the network technology company’s stock after buying an additional 13,335 shares during the period. Concurrent Investment Advisors LLC’s holdings in Palo Alto Networks were worth $4,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Capital Advisors Ltd. LLC grew its holdings 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 acquiring an additional 41 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Palo Alto Networks during the 3rd quarter worth $29,000. Strategic Investment Solutions Inc. IL increased its holdings in shares of Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Palo Alto Networks by 2,933.3% in the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Palo Alto Networks in the third quarter valued at about $32,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 336,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the sale, the executive vice president now directly owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This trade represents a 8.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 700 shares of the company’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 value of $126,854.00. Following the completion of the transaction, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,458,864 shares of company stock worth $269,397,331. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PANW has been the topic of several recent analyst reports. Morgan Stanley upped their target price on shares of Palo Alto Networks from $223.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Needham & Company LLC raised their price objective on Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Westpark Capital reaffirmed a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. OTR Global reissued a “negative” rating on shares of Palo Alto Networks in a report on Thursday, November 7th. Finally, Truist Financial lifted their price target on Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a research note on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.70.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $198.81 on Friday. Palo Alto Networks, Inc. has a 12 month low of $130.04 and a 12 month high of $208.39. The company has a market cap of $131.63 billion, a price-to-earnings ratio of 112.01, a price-to-earnings-growth ratio of 5.96 and a beta of 1.14. The stock’s 50-day moving average is $187.23 and its 200-day moving average is $182.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Research analysts anticipate that Palo Alto Networks, Inc. will post 1.75 EPS for the current year.

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.