743 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Acquired by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 743 shares of the network technology company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PANW. First Pacific Financial lifted its position in Palo Alto Networks by 421.7% during the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Webster Bank N. A. raised its stake in shares of Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC lifted its position in shares of Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares in the last quarter. Byrne Asset Management LLC grew its stake in shares of Palo Alto Networks by 277.8% during the third quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Finally, MV Capital Management Inc. increased its holdings in shares of Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President William D. Jenkins, Jr. sold 1,867 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the sale, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,917 shares of company stock valued at $33,959,203. 3.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PANW has been the subject of several research reports. Sanford C. Bernstein initiated coverage on Palo Alto Networks in a research note on Thursday, January 18th. They issued an “outperform” rating for the company. Stifel Nicolaus reiterated a “buy” rating and set a $330.00 price target on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Piper Sandler lowered shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $350.00 to $300.00 in a report on Wednesday, February 21st. Oppenheimer lifted their target price on shares of Palo Alto Networks from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $293.41 on Tuesday. Palo Alto Networks, Inc. has a 52 week low of $176.30 and a 52 week high of $380.84. The company has a market capitalization of $94.80 billion, a price-to-earnings ratio of 45.85, a PEG ratio of 3.96 and a beta of 1.19. The company has a 50-day simple moving average of $286.15 and a 200 day simple moving average of $292.81.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

Palo Alto Networks 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.