Bank of Jackson Hole Trust Takes $709,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bank of Jackson Hole Trust bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,898 shares of the network technology company’s stock, valued at approximately $709,000.

Several other large investors have also bought and sold shares of the stock. Klingman & Associates LLC raised its position in Palo Alto Networks by 133.6% during the 4th quarter. Klingman & Associates LLC now owns 1,752 shares of the network technology company’s stock worth $319,000 after purchasing an additional 1,002 shares during the last quarter. New York State Common Retirement Fund raised its position in Palo Alto Networks by 110.1% during the 4th quarter. New York State Common Retirement Fund now owns 813,592 shares of the network technology company’s stock worth $148,041,000 after purchasing an additional 426,396 shares during the last quarter. Prossimo Advisors LLC raised its position in Palo Alto Networks by 100.0% during the 4th quarter. Prossimo Advisors LLC now owns 2,800 shares of the network technology company’s stock worth $509,000 after purchasing an additional 1,400 shares during the last quarter. Hara Capital LLC raised its position in Palo Alto Networks by 100.0% during the 4th quarter. Hara Capital LLC now owns 630 shares of the network technology company’s stock worth $115,000 after purchasing an additional 315 shares during the last quarter. Finally, Proactive Wealth Strategies LLC raised its position in shares of Palo Alto Networks by 103.1% in the 4th quarter. Proactive Wealth Strategies LLC now owns 21,218 shares of the network technology company’s stock worth $3,861,000 after acquiring an additional 10,771 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Josh D. Paul sold 700 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 336,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the completion of the transaction, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at approximately $705,730,831.62. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,458,864 shares of company stock valued at $269,397,331. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

PANW has been the subject of several research analyst reports. JMP Securities lifted their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Robert W. Baird lifted their price objective on Palo Alto Networks from $212.50 to $217.50 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. UBS Group lifted their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Morgan Stanley raised their target price on Palo Alto Networks from $223.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Piper Sandler raised their target price on Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $202.70.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $208.28 on Wednesday. Palo Alto Networks, Inc. has a 52-week low of $130.04 and a 52-week high of $208.35. The firm has a fifty day moving average of $186.84 and a 200 day moving average of $182.29. The firm has a market capitalization of $136.67 billion, a PE ratio of 117.34, a price-to-earnings-growth ratio of 5.70 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.75 EPS for the current fiscal 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.