5T Wealth LLC Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

5T Wealth LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,658 shares of the network technology company’s stock, valued at approximately $666,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SJS Investment Consulting Inc. increased its stake 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 buying an additional 69 shares during the period. Capital Advisors Ltd. LLC increased its stake in Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares during the period. Valued Wealth Advisors LLC increased its stake in Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after buying an additional 101 shares during the period. Abound Wealth Management increased its stake in Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 72 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC increased its stake in 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 worth $27,000 after buying an additional 106 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 4.1 %

Shares of PANW opened at $208.28 on Wednesday. The company has a 50-day simple moving average of $186.84 and a 200-day simple moving average of $182.29. The company has a market capitalization of $136.67 billion, a PE ratio of 54.24, a P/E/G ratio of 5.36 and a beta of 1.14. Palo Alto Networks, Inc. has a 52-week low of $130.04 and a 52-week high of $208.35.

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 analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 1.74 EPS for the current year.

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 336,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the completion of the transaction, the executive vice president now directly owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This trade represents a 8.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 176,242 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $195,596,176.16. This trade represents a 13.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,458,864 shares of company stock worth $269,397,331 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Bank of America upped their target price on shares of Palo Alto Networks from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Piper Sandler increased their price objective on shares of Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Citigroup dropped their price objective on shares of Palo Alto Networks from $216.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Morgan Stanley increased their price objective on shares of Palo Alto Networks from $223.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, KeyCorp increased their price objective on shares of Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.70.

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.