Thoroughbred Financial Services LLC Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Thoroughbred Financial Services LLC increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 87.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,536 shares of the network technology company’s stock after purchasing an additional 3,971 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Palo Alto Networks were worth $1,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Palo Alto Networks by 86.3% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 3,446 shares of the network technology company’s stock valued at $627,000 after acquiring an additional 1,596 shares in the last quarter. Uniting Wealth Partners LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter valued at about $548,000. Pitcairn Co. increased its position in shares of Palo Alto Networks by 101.5% during the fourth quarter. Pitcairn Co. now owns 11,916 shares of the network technology company’s stock valued at $2,168,000 after buying an additional 6,001 shares during the period. Grant Private Wealth Management Inc bought a new position in Palo Alto Networks in the fourth quarter worth about $235,000. Finally, Spahn Wealth & Retirement LLC purchased a new stake in Palo Alto Networks in the fourth quarter worth about $5,733,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Down 7.0 %

Shares of NASDAQ:PANW opened at $153.57 on Friday. Palo Alto Networks, Inc. has a 12-month low of $132.63 and a 12-month high of $208.39. The company has a market cap of $101.68 billion, a PE ratio of 86.52, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. The stock has a 50 day moving average of $185.60 and a 200 day moving average of $185.10.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays decreased their target price on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Morgan Stanley set a $230.00 price objective on Palo Alto Networks in a research report on Tuesday, March 18th. Truist Financial reduced their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Citigroup lifted their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Susquehanna upped their price objective on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and two have 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 a consensus target price of $204.27.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 99,707 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the transaction, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 176,242 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $195,596,176.16. The trade was a 13.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,114,786 shares of company stock valued at $200,426,637 over the last ninety days. 2.50% of the stock is currently owned by company insiders.

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.