Harvest Fund Management Co. Ltd Purchases 1,212 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Harvest Fund Management Co. Ltd boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 28.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,543 shares of the network technology company’s stock after acquiring an additional 1,212 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Palo Alto Networks were worth $1,630,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GSG Advisors LLC raised its stake in Palo Alto Networks by 1.0% in the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after acquiring an additional 51 shares during the period. Spirit of America Management Corp NY increased its position in shares of Palo Alto Networks by 50.0% during the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after buying an additional 100 shares during the period. Oliver Lagore Vanvalin Investment Group increased its position in shares of Palo Alto Networks by 46.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock valued at $1,232,000 after buying an additional 1,325 shares during the period. Truist Financial Corp increased its position in shares of Palo Alto Networks by 148.9% during the third quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock valued at $44,497,000 after buying an additional 113,534 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Palo Alto Networks by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock worth $32,143,000 after purchasing an additional 735 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Up 4.2 %

Shares of NASDAQ PANW traded up $11.81 during trading on Tuesday, reaching $293.49. The company had a trading volume of 4,060,803 shares, compared to its average volume of 5,531,698. Palo Alto Networks, Inc. has a 12-month low of $176.30 and a 12-month high of $380.84. The stock has a market cap of $94.83 billion, a PE ratio of 45.86, a P/E/G ratio of 3.79 and a beta of 1.19. The business’s 50-day moving average is $292.16 and its 200 day moving average is $291.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. On average, analysts anticipate that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.

Insider Activity

In related news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the sale, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. Insiders sold a total of 167,917 shares of company stock valued at $49,395,553 in the last 90 days. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

PANW has been the subject of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $330.00 price objective on shares of Palo Alto Networks in a report on Wednesday, March 13th. Oppenheimer increased their price objective on Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Sanford C. Bernstein assumed coverage on Palo Alto Networks in a research note on Thursday, January 18th. They set an “outperform” rating for the company. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, April 17th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

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.