Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 30.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,884 shares of the network technology company’s stock after acquiring an additional 2,298 shares during the period. Fidelis Capital Partners LLC’s holdings in Palo Alto Networks were worth $2,915,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Western Wealth Management LLC boosted its stake in shares of Palo Alto Networks by 21.5% in the fourth quarter. Western Wealth Management LLC now owns 3,082 shares of the network technology company’s stock valued at $909,000 after purchasing an additional 545 shares during the period. Trust Investment Advisors boosted its stake in shares of Palo Alto Networks by 7.7% in the fourth quarter. Trust Investment Advisors now owns 8,100 shares of the network technology company’s stock valued at $2,389,000 after purchasing an additional 578 shares during the period. Bender Robert & Associates boosted its stake in shares of Palo Alto Networks by 13.9% in the fourth quarter. Bender Robert & Associates now owns 7,952 shares of the network technology company’s stock valued at $2,345,000 after purchasing an additional 970 shares during the period. Xponance Inc. boosted its stake in shares of Palo Alto Networks by 1.3% in the fourth quarter. Xponance Inc. now owns 69,226 shares of the network technology company’s stock valued at $20,413,000 after purchasing an additional 897 shares during the period. Finally, Tilt Investment Management Holdings PBC purchased a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $382,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were 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 directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the sale, the president now directly owns 25,812 shares in the company, valued at approximately $7,230,715.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The disclosure for this sale can be found here. Insiders have sold a total of 167,917 shares of company stock valued at $49,395,553 in the last ninety days. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Up 1.4 %

Shares of NASDAQ:PANW traded up $3.81 on Thursday, reaching $281.14. 3,853,848 shares of the company were exchanged, compared to its average volume of 5,596,438. Palo Alto Networks, Inc. has a 1-year low of $176.30 and a 1-year high of $380.84. The firm has a market cap of $90.84 billion, a price-to-earnings ratio of 43.93, a price-to-earnings-growth ratio of 3.75 and a beta of 1.19. The company has a 50-day moving average of $299.16 and a 200-day moving average of $290.18.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly 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. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. As a group, analysts forecast that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.

Analysts Set New Price Targets

PANW has been the subject of several recent research reports. Sanford C. Bernstein assumed coverage on shares of Palo Alto Networks in a research note on Thursday, January 18th. They issued an “outperform” rating for the company. JMP Securities reiterated 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. Wedbush lifted their price target on shares of Palo Alto Networks from $350.00 to $425.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Royal Bank of Canada lifted their price target on shares of Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, Truist Financial boosted 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. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $314.82.

About Palo Alto Networks

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.