Signaturefd LLC Purchases 490 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Signaturefd LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,523 shares of the network technology company’s stock after acquiring an additional 490 shares during the quarter. Signaturefd LLC’s holdings in Palo Alto Networks were worth $1,629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PANW. Norges Bank bought a new position in shares of Palo Alto Networks in the fourth quarter worth about $751,276,000. International Assets Investment Management LLC raised its holdings in Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after buying an additional 2,050,917 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new position in Palo Alto Networks in the 4th quarter valued at approximately $204,728,000. T. Rowe Price Investment Management Inc. bought a new position in Palo Alto Networks in the 4th quarter valued at approximately $85,025,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in Palo Alto Networks by 6,453.6% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock valued at $102,670,000 after buying an additional 431,228 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 1.2 %

Shares of NASDAQ PANW opened at $277.71 on Monday. The business has a 50-day moving average of $295.46 and a 200-day moving average of $291.20. The firm has a market capitalization of $89.73 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 3.79 and a beta of 1.19. Palo Alto Networks, Inc. has a 12 month low of $176.30 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released 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 during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. On average, analysts predict that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PANW shares. Evercore ISI raised their price objective on shares of Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Susquehanna reduced their price objective on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating for the company in a research report on Monday, February 26th. Mizuho reduced their price objective on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Truist Financial raised their price objective on shares of Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group raised their price objective on shares of Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the transaction, the executive vice president now owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,917 shares of company stock worth $49,395,553. 3.30% of the stock is currently owned by 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.