Maia Wealth LLC Increases Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Maia Wealth LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 113.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,550 shares of the network technology company’s stock after purchasing an additional 1,884 shares during the period. Maia Wealth LLC’s holdings in Palo Alto Networks were worth $672,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PANW. Mainstream Capital Management LLC purchased a new position in shares of Palo Alto Networks during the 3rd quarter valued at about $1,156,000. Harvest Portfolios Group Inc. purchased a new position in shares of Palo Alto Networks during the 3rd quarter valued at about $24,414,000. Jennison Associates LLC lifted its position in shares of Palo Alto Networks by 50.1% during the 3rd quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock valued at $1,075,718,000 after buying an additional 1,050,173 shares in the last quarter. Swiss National Bank lifted its position in shares of Palo Alto Networks by 0.5% during the 3rd quarter. Swiss National Bank now owns 961,000 shares of the network technology company’s stock valued at $328,470,000 after buying an additional 4,400 shares in the last quarter. Finally, Chartwell Investment Partners LLC purchased a new position in shares of Palo Alto Networks during the 3rd quarter valued at about $3,844,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 1.6 %

Shares of Palo Alto Networks stock opened at $190.43 on Monday. The stock’s fifty day moving average is $186.64 and its two-hundred day moving average is $184.54. The company has a market capitalization of $126.08 billion, a PE ratio of 107.29, a price-to-earnings-growth ratio of 5.64 and a beta of 1.14. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

PANW has been the topic of a number of analyst reports. Needham & Company LLC lifted their price objective on Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Truist Financial boosted their price target on Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a report on Monday, November 18th. JPMorgan Chase & Co. boosted their price target on Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a report on Monday, November 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a report on Monday, February 10th. Finally, Northland Securities reissued a “market perform” rating and issued a $185.00 price target (up from $175.00) on shares of Palo Alto Networks in a report on Thursday, November 21st. Three investment 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.06.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction 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. This represents a 1.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 235,492 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $183.32, for a total value of $43,170,393.44. Following the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $199,159,581.28. This trade represents a 17.81 % 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 company 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.