Ceeto Capital Group LLC Invests $1.22 Million in Palo Alto Networks, Inc. $PANW

Ceeto Capital Group LLC bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,000 shares of the network technology company’s stock, valued at approximately $1,222,000.

A number of other large investors have also added to or reduced their stakes in PANW. Darwin Wealth Management LLC bought a new position in Palo Alto Networks during the second quarter worth $25,000. Howard Hughes Medical Institute bought a new position in shares of Palo Alto Networks in the second quarter valued at about $29,000. Winch Advisory Services LLC raised its position in shares of Palo Alto Networks by 96.1% in the third 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 period. MTM Investment Management LLC acquired a new stake in shares of Palo Alto Networks during the 2nd quarter worth about $31,000. Finally, Caitlin John LLC acquired a new stake in shares of Palo Alto Networks during the 3rd quarter worth about $31,000. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In related news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total value of $940,900.00. Following the completion of the transaction, the executive vice president owned 155,119 shares of the company’s stock, valued at $29,190,293.42. The trade was a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 sale, the chief accounting officer directly owned 46,005 shares of the company’s stock, valued at $8,502,184.05. This represents a 1.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 149,252 shares of company stock worth $27,888,535 in the last ninety days. 1.40% of the stock is owned by company insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $167.01 on Friday. The business’s 50 day simple moving average is $169.84 and its 200 day simple moving average is $189.50. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $223.61. The company has a market capitalization of $136.28 billion, a P/E ratio of 92.27, a P/E/G ratio of 6.03 and a beta of 0.78.

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

Analysts Set New Price Targets

A number of brokerages recently commented on PANW. BMO Capital Markets decreased their price target on shares of Palo Alto Networks from $230.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 18th. Wells Fargo & Company initiated coverage on shares of Palo Alto Networks in a research report on Tuesday, March 3rd. They set an “overweight” rating and a $200.00 price objective for the company. Truist Financial set a $200.00 price objective on Palo Alto Networks and gave the stock a “buy” rating in a report on Tuesday, February 17th. Mizuho set a $200.00 target price on Palo Alto Networks in a research report on Wednesday, February 18th. Finally, New Street Research lowered their target price on 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. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.19.

Palo Alto Networks 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.