Cwm LLC Purchases 1,460 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Cwm LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,799 shares of the network technology company’s stock after purchasing an additional 1,460 shares during the period. Cwm LLC’s holdings in Palo Alto Networks were worth $3,184,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Palo Alto Networks by 5.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,040 shares of the network technology company’s stock valued at $8,563,000 after purchasing an additional 1,420 shares during the period. Signaturefd LLC boosted its stake in Palo Alto Networks by 9.7% in the 4th quarter. Signaturefd LLC now owns 5,523 shares of the network technology company’s stock valued at $1,629,000 after buying an additional 490 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its stake in Palo Alto Networks by 3.7% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 2,524 shares of the network technology company’s stock valued at $744,000 after buying an additional 90 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Palo Alto Networks by 4.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 1,396 shares of the network technology company’s stock valued at $412,000 after buying an additional 60 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Palo Alto Networks by 9.0% in the 4th quarter. Lindbrook Capital LLC now owns 3,504 shares of the network technology company’s stock valued at $1,033,000 after buying an additional 290 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks 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 transaction of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares in the company, valued at approximately $46,659,063. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the transaction, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 approximately $46,659,063. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,917 shares of company stock worth $49,395,553. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Up 0.1 %

PANW opened at $293.82 on Thursday. Palo Alto Networks, Inc. has a 12-month low of $176.30 and a 12-month high of $380.84. The stock has a market cap of $94.93 billion, a price-to-earnings ratio of 45.91, a PEG ratio of 3.99 and a beta of 1.19. The business has a 50 day moving average of $290.67 and a 200-day moving average of $291.86.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping 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 return on equity of 36.58% and a net margin of 30.24%. As a group, analysts expect that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Wall Street Analyst Weigh In

PANW has been the topic of several recent analyst reports. Piper Sandler lowered Palo Alto Networks from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $350.00 to $300.00 in a research note on Wednesday, February 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Citigroup boosted their price target on Palo Alto Networks from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Sanford C. Bernstein initiated coverage on Palo Alto Networks in a research note on Thursday, January 18th. They issued an “outperform” rating on the stock. Finally, Loop Capital lowered Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research note on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Company 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.