Thoroughbred Financial Services LLC Boosts Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Thoroughbred Financial Services LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 87.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,536 shares of the network technology company’s stock after acquiring an additional 3,971 shares during the period. Thoroughbred Financial Services LLC’s holdings in Palo Alto Networks were worth $1,553,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. SJS Investment Consulting Inc. grew its position in Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake in shares of Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 101 shares during the last quarter. Abound Wealth Management boosted its holdings in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC increased its position in shares of Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 79 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Activity

In other news, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,114,786 shares of company stock valued at $200,426,637. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Down 7.0 %

PANW stock opened at $153.57 on Friday. The stock has a market capitalization of $101.68 billion, a PE ratio of 86.52, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 52 week low of $132.63 and a 52 week high of $208.39. The firm has a 50 day moving average of $185.60 and a 200 day moving average of $185.10.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data 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 net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on PANW. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $190.00 price objective (down previously from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Stephens started coverage on shares of Palo Alto Networks in a research report on Tuesday. They issued an “equal weight” rating and a $205.00 price objective on the stock. Westpark Capital restated a “hold” rating and set a $196.40 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Truist Financial reduced their price target on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Susquehanna boosted their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $204.27.

About Palo Alto Networks

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.