CV Advisors LLC Purchases Shares of 3,562 Palo Alto Networks, Inc. (NASDAQ:PANW)

CV Advisors LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,562 shares of the network technology company’s stock, valued at approximately $648,000. Palo Alto Networks makes up about 0.2% of CV Advisors LLC’s investment portfolio, making the stock its 22nd largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Palo Alto Networks during the third quarter worth about $29,000. True Wealth Design LLC increased its position in shares of Palo Alto Networks by 2,933.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock worth $31,000 after acquiring an additional 88 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Palo Alto Networks during the third quarter worth about $32,000. Darwin Wealth Management LLC bought a new stake in shares of Palo Alto Networks during the third quarter worth about $39,000. Finally, SJS Investment Consulting Inc. increased its position in shares of 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 acquiring an additional 69 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Price Performance

Shares of PANW opened at $182.34 on Friday. The firm has a market cap of $120.73 billion, a P/E ratio of 102.73, a P/E/G ratio of 5.64 and a beta of 1.04. The stock has a 50 day simple moving average of $185.63 and a two-hundred day simple moving average of $184.86. Palo Alto Networks, Inc. has a 1 year low of $132.50 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its 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 analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup boosted their target price on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Guggenheim downgraded Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Monday, January 6th. Piper Sandler lifted their price target on Palo Alto Networks from $165.00 to $192.50 and gave the stock a “neutral” rating in a report on Thursday, November 21st. StockNews.com downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Finally, Bank of America boosted their price target on shares of Palo Alto Networks from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Three equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $205.06.

Insider Activity

In other news, EVP Lee Klarich sold 120,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the sale, the executive vice president now owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 490,723 shares of the 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 sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is currently owned by company insiders.

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.