2,600 Shares in Palo Alto Networks, Inc. $PANW Bought by TradeLink Capital LLC

TradeLink Capital LLC bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,600 shares of the network technology company’s stock, valued at approximately $479,000. Palo Alto Networks makes up approximately 3.8% of TradeLink Capital LLC’s holdings, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PANW. Brighton Jones LLC grew its stake in shares of Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after acquiring an additional 4,031 shares during the last quarter. Bison Wealth LLC raised its position in shares of Palo Alto Networks by 169.1% in the 4th quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock valued at $948,000 after purchasing an additional 3,275 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Palo Alto Networks by 66.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock worth $713,000 after purchasing an additional 1,389 shares in the last quarter. Osterweis Capital Management Inc. boosted its stake in Palo Alto Networks by 11,100.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 560 shares of the network technology company’s stock worth $115,000 after purchasing an additional 555 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its position in Palo Alto Networks by 6.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,398 shares of the network technology company’s stock worth $900,000 after purchasing an additional 249 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $213.66 on Tuesday. The firm has a market capitalization of $174.35 billion, a P/E ratio of 118.04, a PEG ratio of 7.49 and a beta of 0.77. Palo Alto Networks, Inc. has a 1-year low of $139.57 and a 1-year high of $223.61. The company’s fifty day moving average price is $168.60 and its 200-day moving average price is $180.57.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts anticipate that Palo Alto Networks, Inc. will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on PANW. Sanford C. Bernstein set a $209.00 price target on shares of Palo Alto Networks and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Wells Fargo & Company boosted their price objective on shares of Palo Alto Networks from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 18th. BTIG Research raised their target price on Palo Alto Networks from $200.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $212.09.

Insiders Place Their Bets

In other news, Director John P. Key sold 1,572 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $173.32, for a total value of $272,459.04. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at $3,466,400. The trade was a 7.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $160.42, for a total value of $802,100.00. Following the completion of the sale, the executive vice president owned 150,250 shares in the company, valued at $24,103,105. The trade was a 3.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 30,356 shares of company stock worth $4,981,575. 1.40% of the stock is currently owned by company insiders.

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.