Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 121.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,641 shares of the network technology company’s stock after buying an additional 2,000 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Palo Alto Networks were worth $663,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Gables Capital Management Inc. lifted its position in shares of Palo Alto Networks by 100.0% during the fourth quarter. Gables Capital Management Inc. now owns 800 shares of the network technology company’s stock worth $146,000 after purchasing an additional 400 shares in the last quarter. Founders Financial Alliance LLC lifted its position in shares of Palo Alto Networks by 100.0% during the fourth quarter. Founders Financial Alliance LLC now owns 1,294 shares of the network technology company’s stock worth $235,000 after purchasing an additional 647 shares in the last quarter. Wallace Hart LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth about $411,000. Miller Financial Services LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth about $595,000. Finally, O Dell Group LLC lifted its position in shares of Palo Alto Networks by 100.0% during the fourth quarter. O Dell Group LLC now owns 2,320 shares of the network technology company’s stock worth $422,000 after purchasing an additional 1,160 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on PANW shares. Morgan Stanley increased their price target 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. KeyCorp upped their target price on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Piper Sandler upped their target price on shares of Palo Alto Networks from $165.00 to $192.50 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $190.00 target price (down from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Finally, HSBC lowered shares of Palo Alto Networks from a “hold” rating to a “reduce” rating and cut their target price for the stock from $152.00 to $145.50 in a research note on Friday, November 22nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.06.

Insider Transactions at Palo Alto Networks

In other news, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. The trade was a 31.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the sale, 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. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Stock Up 2.9 %

NASDAQ:PANW opened at $178.93 on Wednesday. The company has a market capitalization of $118.47 billion, a PE ratio of 100.81, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The stock has a fifty day simple moving average of $185.78 and a 200-day simple moving average of $184.83.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion during 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, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share 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.