Quadrant Capital Group LLC Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Quadrant Capital Group LLC lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 120.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,168 shares of the network technology company’s stock after buying an additional 3,923 shares during the period. Quadrant Capital Group LLC’s holdings in Palo Alto Networks were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PANW. Cascades Capital Asset Management LLC raised its holdings in Palo Alto Networks by 100.0% in the 4th quarter. Cascades Capital Asset Management LLC now owns 3,726 shares of the network technology company’s stock valued at $678,000 after buying an additional 1,863 shares during the period. Ilmarinen Mutual Pension Insurance Co increased its position in shares of Palo Alto Networks by 185.7% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 100,000 shares of the network technology company’s stock valued at $18,196,000 after acquiring an additional 65,000 shares during the last quarter. Hurley Capital LLC purchased a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $62,000. Wedbush Securities Inc. lifted its holdings in shares of Palo Alto Networks by 106.0% in the 4th quarter. Wedbush Securities Inc. now owns 62,182 shares of the network technology company’s stock worth $11,315,000 after acquiring an additional 31,997 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Palo Alto Networks by 94.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,121,531 shares of the network technology company’s stock worth $204,074,000 after purchasing an additional 544,336 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 7.0 %

PANW opened at $153.57 on Monday. Palo Alto Networks, Inc. has a 52 week low of $132.83 and a 52 week high of $208.39. The business has a 50 day moving average price of $185.60 and a two-hundred day moving average price of $185.36. The company has a market cap of $101.68 billion, a PE ratio of 86.52, a P/E/G ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations 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, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 99,707 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the sale, the executive vice president now owns 358,197 shares in the company, valued at $65,353,042.65. The trade was a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 818,544 shares of company stock valued at $147,132,028 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PANW. Truist Financial decreased their price target on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Loop Capital dropped their target price on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Guggenheim cut shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Monday, January 6th. Citigroup lifted their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, Barclays reduced their target price on shares of Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $204.27.

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.