Crown Wealth Group LLC Buys 787 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Crown Wealth Group LLC lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 101.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,562 shares of the network technology company’s stock after acquiring an additional 787 shares during the quarter. Crown Wealth Group LLC’s holdings in Palo Alto Networks were worth $284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mainstream Capital Management LLC acquired a new position in shares of Palo Alto Networks in the 3rd quarter worth approximately $1,156,000. Harvest Portfolios Group Inc. acquired a new position in Palo Alto Networks in the third quarter valued at $24,414,000. Jennison Associates LLC lifted its holdings in Palo Alto Networks by 50.1% in the third quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock valued at $1,075,718,000 after buying an additional 1,050,173 shares during the period. Swiss National Bank boosted its position in Palo Alto Networks by 0.5% during the third quarter. Swiss National Bank now owns 961,000 shares of the network technology company’s stock valued at $328,470,000 after acquiring an additional 4,400 shares during the last quarter. Finally, Congress Asset Management Co. acquired a new stake in Palo Alto Networks during the 3rd quarter worth about $94,875,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. JMP Securities boosted their price target on Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. BMO Capital Markets boosted their target price on shares of Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a research report on Thursday, November 21st. UBS Group raised their price target on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. HSBC lowered shares of Palo Alto Networks from a “hold” rating to a “reduce” rating and dropped their price objective for the company from $152.00 to $145.50 in a report on Friday, November 22nd. Finally, Truist Financial raised their target price on Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a research note on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.06.

Read Our Latest Stock Analysis on Palo Alto Networks

Insider Activity

In other Palo Alto Networks news, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. This represents a 31.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 120,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the transaction, the executive vice president now owns 365,856 shares in the company, valued at $65,744,323.20. The trade was a 24.70 % 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 Stock Up 0.8 %

Palo Alto Networks stock opened at $189.55 on Thursday. The firm has a fifty day simple moving average of $186.60 and a two-hundred day simple moving average of $184.12. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39. The company has a market capitalization of $125.50 billion, a PE ratio of 106.79, a P/E/G ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

About Palo Alto Networks

(Free Report)

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.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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