FORA Capital LLC Buys New Position in Palo Alto Networks, Inc. $PANW

FORA Capital LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,866 shares of the network technology company’s stock, valued at approximately $1,602,000.

Several other large investors also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in shares of Palo Alto Networks during the second quarter valued at approximately $25,000. Howard Hughes Medical Institute purchased a new position in shares of Palo Alto Networks in the second quarter valued at $29,000. Winch Advisory Services LLC grew its holdings in Palo Alto Networks by 96.1% during the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. MTM Investment Management LLC acquired a new stake in Palo Alto Networks during the 2nd quarter valued at $31,000. Finally, Caitlin John LLC purchased a new stake in Palo Alto Networks during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PANW shares. Guggenheim reissued a “neutral” rating on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. TD Cowen reissued a “buy” rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. Argus upgraded Palo Alto Networks to a “strong-buy” rating in a research note on Friday, February 20th. Finally, Rosenblatt Securities restated a “buy” rating and set a $225.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.19.

Insider Transactions at Palo Alto Networks

In other news, Director James J. Goetz sold 22,684 shares of Palo Alto Networks stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $164.41, for a total value of $3,729,476.44. Following the completion of the transaction, the director owned 52,500 shares in the company, valued at approximately $8,631,525. This trade represents a 30.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $188.18, for a total value of $940,900.00. Following the completion of the sale, the executive vice president owned 155,119 shares of the company’s stock, valued at $29,190,293.42. This trade represents a 3.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 149,252 shares of company stock worth $27,888,535. 1.40% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $167.01 on Friday. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $223.61. The firm’s 50-day simple moving average is $169.84 and its 200-day simple moving average is $189.47. The firm has a market cap of $136.28 billion, a PE ratio of 92.27, a price-to-earnings-growth ratio of 6.07 and a beta of 0.78.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.58 billion. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. On average, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.