20,491 Shares in Palo Alto Networks, Inc. $PANW Acquired by Stenger Family Office LLC

Stenger Family Office LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 20,491 shares of the network technology company’s stock, valued at approximately $4,193,000. Palo Alto Networks makes up about 1.0% of Stenger Family Office LLC’s portfolio, making the stock its 24th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Palo Alto Networks during the first quarter worth $261,000. Strive Asset Management LLC increased its position in shares of Palo Alto Networks by 16.6% in the 1st quarter. Strive Asset Management LLC now owns 2,099 shares of the network technology company’s stock valued at $358,000 after acquiring an additional 299 shares during the period. Schroder Investment Management Group raised its stake in Palo Alto Networks by 7.9% in the 2nd quarter. Schroder Investment Management Group now owns 2,234,551 shares of the network technology company’s stock worth $457,279,000 after acquiring an additional 163,718 shares during the last quarter. Richmond Investment Services LLC raised its stake in Palo Alto Networks by 87.2% in the 2nd quarter. Richmond Investment Services LLC now owns 3,286 shares of the network technology company’s stock worth $672,000 after acquiring an additional 1,531 shares during the last quarter. Finally, Oak Associates Ltd. OH acquired a new stake in Palo Alto Networks during the 2nd quarter worth about $904,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $198.84 on Friday. The stock has a market capitalization of $138.59 billion, a price-to-earnings ratio of 125.85, a PEG ratio of 4.63 and a beta of 0.79. The firm’s 50 day simple moving average is $205.98 and its 200-day simple moving average is $197.23. Palo Alto Networks, Inc. has a 12 month low of $144.15 and a 12 month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.56 earnings per share. Analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PANW shares. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Palo Alto Networks in a report on Thursday, November 20th. Morgan Stanley upped their target price on Palo Alto Networks from $216.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Palo Alto Networks in a research report on Tuesday, November 25th. Barclays lifted their price objective on shares of Palo Alto Networks from $215.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $230.00 price objective (up previously from $225.00) on shares of Palo Alto Networks in a research note on Thursday, November 20th. Thirty research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $225.09.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $189.39, for a total value of $132,573.00. Following the completion of the sale, the chief accounting officer directly owned 46,805 shares in the company, valued at $8,864,398.95. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $217.94, for a total value of $26,321,485.56. Following the transaction, the executive vice president directly owned 356,409 shares of the company’s stock, valued at approximately $77,675,777.46. The trade was a 25.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,215,830 shares of company stock worth $249,260,680 in the last 90 days. 1.40% of the stock is currently owned by company 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.