Nwam LLC Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Nwam LLC grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 106.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,964 shares of the network technology company’s stock after acquiring an additional 2,045 shares during the quarter. Nwam LLC’s holdings in Palo Alto Networks were worth $721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. SJS Investment Consulting Inc. lifted its position in 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 during the period. 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 during the period. 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 during the period. 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 during the period. Finally, Capital Advisors Ltd. LLC lifted its position in Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after buying an additional 79 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Josh D. Paul sold 700 shares of the business’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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 490,723 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $89,532,411.35. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PANW shares. HSBC downgraded Palo Alto Networks from a “hold” rating to a “reduce” rating and reduced their target price for the stock from $152.00 to $145.50 in a research report on Friday, November 22nd. Susquehanna increased their target price on Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a research report on Tuesday, February 18th. StockNews.com downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. TD Cowen raised their price objective on Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Truist Financial raised their price objective on Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a report on Monday, November 18th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.06.

Palo Alto Networks Trading Up 1.6 %

Shares of NASDAQ PANW opened at $190.43 on Friday. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39. The company has a market capitalization of $126.08 billion, a price-to-earnings ratio of 107.29, a price-to-earnings-growth ratio of 5.64 and a beta of 1.14. The business has a 50 day simple moving average of $186.64 and a 200-day simple moving average of $184.32.

Palo Alto Networks (NASDAQ:PANW) last issued 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 return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current 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.