FWG Holdings LLC Buys 1,977 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

FWG Holdings LLC raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 101.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,934 shares of the network technology company’s stock after purchasing an additional 1,977 shares during the quarter. FWG Holdings LLC’s holdings in Palo Alto Networks were worth $719,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC boosted its stake in Palo Alto Networks by 50.1% during the third quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock worth $1,075,718,000 after buying an additional 1,050,173 shares in the last quarter. Swiss National Bank boosted its position in shares of Palo Alto Networks by 0.5% during the 3rd quarter. Swiss National Bank now owns 961,000 shares of the network technology company’s stock valued at $328,470,000 after acquiring an additional 4,400 shares in the last quarter. Chartwell Investment Partners LLC bought a new stake in Palo Alto Networks in the third quarter valued at about $3,844,000. Dillon & Associates Inc. raised its position in Palo Alto Networks by 4.5% in the third quarter. Dillon & Associates Inc. now owns 50,650 shares of the network technology company’s stock worth $17,322,000 after purchasing an additional 2,167 shares in the last quarter. Finally, Proactive Wealth Strategies LLC bought a new position in Palo Alto Networks during the third quarter worth about $3,571,000. Institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PANW. BTIG Research cut Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. StockNews.com lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Royal Bank of Canada reissued an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a report on Monday, February 10th. Truist Financial upped their target price on shares of Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, UBS Group lifted their price target on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 14th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.06.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 235,492 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at $199,159,581.28. This represents a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 99,707 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 $18,191,542.15. Following the sale, the executive vice president now owns 358,197 shares in the company, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,122,864 shares of company stock valued at $204,315,811. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $180.93 on Monday. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The stock has a market cap of $119.79 billion, a P/E ratio of 101.93, a P/E/G ratio of 5.64 and a beta of 1.04. The firm has a 50 day moving average price of $186.05 and a 200 day moving average price of $184.81.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. 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.