Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Raised by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,921 shares of the network technology company’s stock after acquiring an additional 1,366 shares during the period. Palo Alto Networks accounts for about 3.2% of Pursue Wealth Partners LLC’s investment portfolio, making the stock its 9th largest position. Pursue Wealth Partners LLC’s holdings in Palo Alto Networks were worth $4,990,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GSG Advisors LLC grew 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 last quarter. Spirit of America Management Corp NY boosted its stake in shares of Palo Alto Networks by 50.0% during the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock worth $88,000 after purchasing an additional 100 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Palo Alto Networks by 46.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock worth $1,232,000 after purchasing an additional 1,325 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Palo Alto Networks by 148.9% during the 3rd quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock worth $44,497,000 after acquiring an additional 113,534 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Palo Alto Networks by 0.5% during the 3rd 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 acquiring an additional 735 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the sale, the executive vice president now directly owns 198,105 shares in the company, valued at $56,327,194.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00. Following the sale, the executive vice president now directly owns 198,105 shares in the company, valued at $56,327,194.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of the company’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 completion of the sale, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,917 shares of company stock worth $49,395,553. Company insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the subject of several recent research reports. Loop Capital downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research report on Wednesday, February 21st. The Goldman Sachs Group raised their price target on shares of Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Sanford C. Bernstein assumed coverage on shares of Palo Alto Networks in a research report on Thursday, January 18th. They set an “outperform” rating for the company. Northland Securities downgraded shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price target for the company. in a research report on Wednesday, February 21st. Finally, Redburn Atlantic lifted their price objective on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $2.63 during trading on Friday, hitting $291.42. 2,246,512 shares of the stock traded hands, compared to its average volume of 3,487,617. The stock has a market cap of $94.16 billion, a P/E ratio of 45.53, a PEG ratio of 3.96 and a beta of 1.19. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84. The company has a fifty day moving average price of $287.61 and a two-hundred day moving average price of $292.35.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

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.