Palo Alto Networks, Inc. $PANW is Legacy Wealth Management LLC MS’s 10th Largest Position

Legacy Wealth Management LLC MS decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,564 shares of the network technology company’s stock after selling 3,182 shares during the period. Palo Alto Networks makes up approximately 1.8% of Legacy Wealth Management LLC MS’s holdings, making the stock its 10th largest position. Legacy Wealth Management LLC MS’s holdings in Palo Alto Networks were worth $6,919,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PANW. Darwin Wealth Management LLC purchased a new stake in Palo Alto Networks during the 2nd quarter valued at approximately $25,000. Howard Hughes Medical Institute purchased a new position in shares of Palo Alto Networks in the 2nd quarter valued at approximately $29,000. Winch Advisory Services LLC grew its stake in shares of Palo Alto Networks by 96.1% in 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 during the last quarter. Painted Porch Advisors LLC increased its holdings in shares of Palo Alto Networks by 72.7% in the third quarter. Painted Porch Advisors LLC now owns 152 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 64 shares during the period. Finally, Caitlin John LLC acquired a new position in shares of Palo Alto Networks in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Needham & Company LLC decreased their price target on Palo Alto Networks from $230.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. New Street Research dropped their price objective on shares of Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Daiwa Securities Group cut their price objective on shares of Palo Alto Networks from $212.00 to $175.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Northland Securities raised their target price on shares of Palo Alto Networks from $177.00 to $190.00 and gave the stock a “market perform” rating in a research note on Thursday, November 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.19.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $169.74 on Friday. The business’s fifty day moving average price is $168.30 and its 200 day moving average price is $188.93. Palo Alto Networks, Inc. has a 1-year low of $139.57 and a 1-year high of $223.61. The firm has a market capitalization of $138.51 billion, a PE ratio of 93.78, a P/E/G ratio of 6.10 and a beta of 0.78.

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

Insider Activity at Palo Alto Networks

In related news, Director James J. Goetz sold 22,684 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the sale, the director owned 52,500 shares of the company’s stock, valued at approximately $8,631,525. The trade was a 30.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Josh D. Paul sold 800 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $184.81, for a total transaction of $147,848.00. Following the transaction, the chief accounting officer owned 46,005 shares in the company, valued at $8,502,184.05. The trade was a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 149,252 shares of company stock valued at $27,888,535. Company insiders own 1.40% of the company’s stock.

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.