Boston Family Office LLC Has $18.66 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Boston Family Office LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 96.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,546 shares of the network technology company’s stock after buying an additional 50,235 shares during the period. Palo Alto Networks comprises about 1.3% of Boston Family Office LLC’s portfolio, making the stock its 27th biggest holding. Boston Family Office LLC’s holdings in Palo Alto Networks were worth $18,659,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PANW. Itau Unibanco Holding S.A. bought a new stake in shares of Palo Alto Networks during the third quarter worth $29,000. True Wealth Design LLC grew its position in Palo Alto Networks by 2,933.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock worth $31,000 after acquiring an additional 88 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Palo Alto Networks by 97.2% during the 4th 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 during the last quarter. Valued Wealth Advisors LLC raised its position in Palo Alto Networks by 246.3% in the fourth 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. Finally, Abound Wealth Management boosted its stake in shares of Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PANW shares. Barclays lowered their price objective on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Jefferies Financial Group dropped their price target on shares of Palo Alto Networks from $240.00 to $215.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley set a $230.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, March 18th. BTIG Research lowered Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Finally, 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 research report on Monday. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.25.

Palo Alto Networks Stock Down 1.2 %

Shares of Palo Alto Networks stock opened at $170.64 on Tuesday. 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 $187.26 and a 200-day moving average price of $185.48. The company has a market cap of $112.98 billion, a PE ratio of 96.14, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.

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.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares in the company, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,122,864 shares of company stock valued at $204,315,811. Corporate insiders own 2.50% of the company’s stock.

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.