Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Carroll Investors Inc

Carroll Investors Inc boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 56,674 shares of the network technology company’s stock after purchasing an additional 28,364 shares during the period. Palo Alto Networks makes up approximately 5.8% of Carroll Investors Inc’s portfolio, making the stock its 7th biggest holding. Carroll Investors Inc’s holdings in Palo Alto Networks were worth $10,320,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Chiron Investment Management LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $5,740,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Palo Alto Networks in the fourth quarter valued at $3,351,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Palo Alto Networks in the fourth quarter worth about $2,180,000. Strategies Wealth Advisors LLC purchased a new stake in shares of Palo Alto Networks during the 4th quarter worth about $698,000. Finally, Icon Advisers Inc. Co. acquired a new stake in shares of Palo Alto Networks during the 4th quarter valued at about $3,715,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Truist Financial reduced their price target on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a report on Monday, March 31st. BTIG Research downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. StockNews.com cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $190.00 price objective (down from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Finally, Guggenheim lowered shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.52.

Insider Activity at Palo Alto Networks

In other news, CAO Josh D. Paul sold 700 shares of the stock in a transaction on Monday, February 3rd. The stock was 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 in the company, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The sale 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 company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the sale, the chief executive officer now owns 1,086,404 shares in the company, 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. In the last 90 days, insiders have sold 1,039,318 shares of company stock worth $181,925,602. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Up 1.0 %

Shares of NASDAQ:PANW opened at $169.98 on Tuesday. The business has a 50-day moving average price of $181.95 and a 200 day moving average price of $184.92. Palo Alto Networks, Inc. has a 12-month low of $135.18 and a 12-month high of $208.39. The company has a market capitalization of $112.54 billion, a price-to-earnings ratio of 95.76, a PEG ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share 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.