Cobblestone Capital Advisors LLC NY Has $293,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 110.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,610 shares of the network technology company’s stock after buying an additional 846 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Palo Alto Networks were worth $293,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of PANW. Swedbank AB increased its holdings in shares of Palo Alto Networks by 19.7% during the third quarter. Swedbank AB now owns 786,574 shares of the network technology company’s stock worth $268,851,000 after buying an additional 129,371 shares in the last quarter. Howard Capital Management Group LLC grew its position in Palo Alto Networks by 1.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock worth $36,316,000 after acquiring an additional 1,619 shares during the last quarter. JFS Wealth Advisors LLC increased its holdings in Palo Alto Networks by 613.9% in the 3rd quarter. JFS Wealth Advisors LLC now owns 257 shares of the network technology company’s stock worth $88,000 after purchasing an additional 221 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in Palo Alto Networks by 6.7% in the 3rd quarter. Stephens Investment Management Group LLC now owns 39,144 shares of the network technology company’s stock worth $13,379,000 after purchasing an additional 2,474 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in Palo Alto Networks by 1.4% in the 3rd quarter. Principal Securities Inc. now owns 11,538 shares of the network technology company’s stock worth $3,944,000 after purchasing an additional 163 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In other Palo Alto Networks news, CEO Nikesh Arora sold 235,492 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. This trade represents a 17.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lee Klarich sold 120,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the sale, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at $65,744,323.20. The trade was a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,122,864 shares of company stock worth $204,315,811 over the last quarter. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. BTIG Research downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. OTR Global restated a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Piper Sandler upped their price target on shares of Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a research report on Thursday, November 21st. HSBC downgraded Palo Alto Networks from a “hold” rating to a “reduce” rating and decreased their price objective for the company from $152.00 to $145.50 in a report on Friday, November 22nd. Finally, Morgan Stanley increased their price objective on Palo Alto Networks from $223.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Stock Up 1.6 %

Shares of Palo Alto Networks stock opened at $190.43 on Friday. The company has a market cap of $126.08 billion, a PE ratio of 107.29, a price-to-earnings-growth ratio of 5.64 and a beta of 1.14. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39. The business has a 50 day moving average price of $186.64 and a 200-day moving average price of $184.44.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current 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.