Palo Alto Networks, Inc. $PANW Shares Acquired by Mirabella Financial Services LLP

Mirabella Financial Services LLP lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 162.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,645 shares of the network technology company’s stock after buying an additional 7,205 shares during the quarter. Mirabella Financial Services LLP’s holdings in Palo Alto Networks were worth $2,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Palo Alto Networks by 147.7% during the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after buying an additional 4,031 shares during the last quarter. Bison Wealth LLC increased its position in Palo Alto Networks by 169.1% during the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock worth $948,000 after buying an additional 3,275 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Palo Alto Networks by 66.3% in the second quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock worth $713,000 after acquiring an additional 1,389 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Palo Alto Networks by 12.0% in the 2nd quarter. Avantax Advisory Services Inc. now owns 53,145 shares of the network technology company’s stock valued at $10,876,000 after purchasing an additional 5,707 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its stake in shares of Palo Alto Networks by 92.8% during the second quarter. Citizens Financial Group Inc. RI now owns 39,914 shares of the network technology company’s stock valued at $8,168,000 after buying an additional 19,213 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Price Performance

Shares of PANW opened at $167.45 on Tuesday. The stock has a fifty day moving average price of $169.55 and a 200 day moving average price of $189.35. The company has a market cap of $136.64 billion, a P/E ratio of 92.51, a PEG ratio of 6.03 and a beta of 0.78. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $223.61.

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

Insider Buying and Selling

In related news, EVP Lee Klarich sold 120,768 shares of Palo Alto Networks stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $191.03, for a total value of $23,070,311.04. Following the transaction, the executive vice president directly owned 298,887 shares in the company, valued at $57,096,383.61. The trade was a 28.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 800 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $184.81, for a total value of $147,848.00. Following the sale, the chief accounting officer directly owned 46,005 shares in the company, valued at $8,502,184.05. This trade represents 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 90 days, insiders sold 149,252 shares of company stock valued at $27,888,535. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Mizuho set a $200.00 target price on Palo Alto Networks in a research report on Wednesday, February 18th. Barclays set a $200.00 price target on Palo Alto Networks and gave the company an “overweight” rating in a report on Monday, February 9th. New Street Research dropped their price objective on Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Finally, Arete Research upgraded Palo Alto Networks from a “sell” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.19.

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.