Jaffetilchin Investment Partners LLC Acquires 12,461 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Jaffetilchin Investment Partners LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 104.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,353 shares of the network technology company’s stock after buying an additional 12,461 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Palo Alto Networks were worth $4,431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Harbert Fund Advisors Inc. bought a new position in Palo Alto Networks during the fourth quarter worth $1,478,000. Covestor Ltd boosted its position in shares of Palo Alto Networks by 319.0% during the 4th quarter. Covestor Ltd now owns 2,011 shares of the network technology company’s stock worth $366,000 after purchasing an additional 1,531 shares in the last quarter. Argent Trust Co boosted its position in shares of Palo Alto Networks by 102.5% during the 4th quarter. Argent Trust Co now owns 30,207 shares of the network technology company’s stock worth $5,496,000 after purchasing an additional 15,287 shares in the last quarter. FRG Family Wealth Advisors LLC grew its stake in shares of Palo Alto Networks by 99.2% in the 4th quarter. FRG Family Wealth Advisors LLC now owns 2,878 shares of the network technology company’s stock valued at $524,000 after buying an additional 1,433 shares during the period. Finally, Accredited Investors Inc. increased its position in Palo Alto Networks by 145.9% in the 4th quarter. Accredited Investors Inc. now owns 1,697 shares of the network technology company’s stock valued at $309,000 after buying an additional 1,007 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 227,414 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the transaction, the chief executive officer now directly owns 317,571 shares in the company, valued at $54,854,038.83. The trade was a 41.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at approximately $48,629,704.62. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 939,318 shares of company stock worth $165,384,602 in the last quarter. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Rosenblatt Securities reissued a “buy” rating and issued a $235.00 price objective on shares of Palo Alto Networks in a research note on Monday, March 31st. Scotiabank boosted their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. BTIG Research lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Citigroup boosted their target price on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, Truist Financial cut their price target on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, twelve have issued 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.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.52.

Palo Alto Networks Trading Down 2.7 %

PANW opened at $168.27 on Friday. The company has a 50 day moving average of $182.59 and a 200 day moving average of $184.81. The company has a market cap of $111.41 billion, a PE ratio of 94.80, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 12 month low of $135.18 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS 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 analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal 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.