Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Aigen Investment Management LP

Aigen Investment Management LP raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 170.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,311 shares of the network technology company’s stock after purchasing an additional 3,978 shares during the quarter. Aigen Investment Management LP’s holdings in Palo Alto Networks were worth $1,148,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. grew its position in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares during the last quarter. Valued Wealth Advisors LLC raised its stake in Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after buying an additional 101 shares during the period. Abound Wealth Management increased its holdings in Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of a number of recent analyst reports. KeyCorp lifted their price objective on shares of Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Cantor Fitzgerald restated an “overweight” rating and set a $223.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Northland Securities reaffirmed a “market perform” rating and issued a $185.00 target price (up from $175.00) on shares of Palo Alto Networks in a research report on Thursday, November 21st. Evercore ISI lowered their price objective on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. Finally, Truist Financial upped their target price on shares of Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a research report on Monday, November 18th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.06.

Insider Buying and Selling

In other news, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This represents a 31.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the sale, the executive vice president now owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. This trade represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $184.28 on Thursday. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The stock has a market capitalization of $122.01 billion, a price-to-earnings ratio of 103.82, a P/E/G ratio of 5.64 and a beta of 1.14. The company’s 50 day moving average price is $186.34 and its 200-day moving average price is $184.74.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal 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.