Quantum Private Wealth LLC Grows Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Quantum Private Wealth LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,170 shares of the network technology company’s stock after acquiring an additional 520 shares during the quarter. Quantum Private Wealth LLC’s holdings in Palo Alto Networks were worth $1,525,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PANW. Norges Bank purchased a new position in Palo Alto Networks during the 4th quarter worth approximately $751,276,000. International Assets Investment Management LLC grew its stake in Palo Alto Networks by 29,086.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after buying an additional 2,050,917 shares during the last quarter. Moneta Group Investment Advisors LLC purchased a new position in Palo Alto Networks during the 4th quarter worth approximately $204,728,000. T. Rowe Price Investment Management Inc. purchased a new position in Palo Alto Networks during the 4th quarter worth approximately $85,025,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Palo Alto Networks by 6,453.6% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock worth $102,670,000 after buying an additional 431,228 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $67,955,958.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $67,955,958.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,917 shares of company stock worth $49,395,553. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ PANW traded up $1.92 during trading hours on Wednesday, reaching $276.94. The company’s stock had a trading volume of 1,044,362 shares, compared to its average volume of 5,589,898. The stock has a market cap of $89.48 billion, a PE ratio of 43.26, a PEG ratio of 3.71 and a beta of 1.19. The company’s 50-day moving average is $300.91 and its two-hundred day moving average is $290.27. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. Equities analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Capital One Financial downgraded Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target on the stock. in a research note on Wednesday, February 21st. Sanford C. Bernstein assumed coverage on Palo Alto Networks in a research note on Thursday, January 18th. They set an “outperform” rating on the stock. Truist Financial raised their price target on Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Finally, Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Eleven analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

About Palo Alto Networks

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.