GAMMA Investing LLC Purchases New Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

GAMMA Investing LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, Holdings Channel reports. The fund purchased 2,477 shares of the network technology company’s stock, valued at approximately $730,000.

Other large investors have also recently bought and sold shares of the company. First Pacific Financial lifted its position in shares of Palo Alto Networks by 421.7% in the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. Webster Bank N. A. lifted its holdings in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares during the last quarter. Byrne Asset Management LLC lifted its holdings in Palo Alto Networks by 277.8% during the 3rd quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Finally, MV Capital Management Inc. lifted its holdings in Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after purchasing an additional 29 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Scotiabank dropped their price target on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 21st. KeyCorp dropped their price target on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Barclays dropped their price target on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. The Goldman Sachs Group raised their price objective on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Truist Financial raised their price objective on Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.82.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the sale, the executive vice president now directly owns 174,075 shares in the company, valued at $46,659,063. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,917 shares of company stock worth $49,395,553. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 4.2 %

NASDAQ:PANW traded up $11.81 during trading hours on Tuesday, reaching $293.49. 4,060,803 shares of the company traded hands, compared to its average volume of 5,531,698. The business’s 50-day moving average price is $293.65 and its two-hundred day moving average price is $291.51. The stock has a market capitalization of $94.83 billion, a P/E ratio of 45.47, a P/E/G ratio of 3.79 and a beta of 1.19. Palo Alto Networks, Inc. has a 1 year low of $176.30 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

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.