Stenger Family Office LLC Makes New $2.71 Million Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Stenger Family Office LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,914 shares of the network technology company’s stock, valued at approximately $2,714,000. Palo Alto Networks accounts for approximately 0.9% of Stenger Family Office LLC’s holdings, making the stock its 27th biggest holding.

Several other large investors also recently made changes to their positions in PANW. Vanguard Group Inc. boosted its stake in Palo Alto Networks by 104.4% in the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock worth $11,142,122,000 after purchasing an additional 31,281,359 shares during the period. Geode Capital Management LLC boosted its position in shares of Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock worth $2,611,013,000 after buying an additional 6,725,148 shares during the period. Norges Bank bought a new position in shares of Palo Alto Networks during the fourth quarter worth about $970,736,000. Jennison Associates LLC raised its position in Palo Alto Networks by 83.0% in the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock valued at $1,048,033,000 after buying an additional 2,612,474 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in Palo Alto Networks by 86.9% during the 4th quarter. Clearbridge Investments LLC now owns 4,775,171 shares of the network technology company’s stock worth $868,890,000 after acquiring an additional 2,220,130 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 2.1 %

PANW opened at $173.55 on Wednesday. The company’s 50 day moving average is $181.67 and its 200-day moving average is $184.84. The company has a market cap of $114.91 billion, a P/E ratio of 97.78, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 1-year low of $135.18 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion for 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%. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on PANW. KeyCorp boosted their price objective on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. BTIG Research lowered Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Truist Financial decreased 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. UBS Group increased their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group lowered their target price on shares of Palo Alto Networks from $240.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $204.52.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. This represents a 2.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,039,318 shares of company stock worth $181,925,602. 2.50% of the stock is currently owned by insiders.

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.