TCG Advisory Services LLC Invests $4.80 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

TCG Advisory Services LLC purchased a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,291 shares of the network technology company’s stock, valued at approximately $4,804,000.

Other institutional investors also recently made changes to their positions in the company. MV Capital Management Inc. increased its position in Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 29 shares during the period. Quent Capital LLC increased its position in Palo Alto Networks by 15.9% in the 4th quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after acquiring an additional 32 shares during the period. Parisi Gray Wealth Management increased its position in Palo Alto Networks by 2.2% in the 4th quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock valued at $448,000 after acquiring an additional 33 shares during the period. Argonautica Private Wealth Management Inc. increased its position in Palo Alto Networks by 2.3% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock valued at $450,000 after acquiring an additional 34 shares during the period. Finally, Howard Financial Services LTD. increased its position in Palo Alto Networks by 3.4% in the 4th quarter. Howard Financial Services LTD. now owns 1,061 shares of the network technology company’s stock valued at $313,000 after acquiring an additional 35 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares in the company, valued at $56,327,194.65. The disclosure for this sale can be found here. Insiders sold 158,917 shares of company stock valued at $44,335,843 over the last quarter. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Up 0.3 %

Shares of NASDAQ:PANW traded up $0.89 on Friday, reaching $296.21. The company had a trading volume of 3,438,974 shares, compared to its average volume of 3,429,938. Palo Alto Networks, Inc. has a twelve month low of $177.09 and a twelve month high of $380.84. The stock has a 50-day moving average price of $285.98 and a 200 day moving average price of $293.25. The stock has a market capitalization of $95.71 billion, a P/E ratio of 46.28, a P/E/G ratio of 4.03 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last announced 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 return on equity of 36.58% and a net margin of 30.24%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Sanford C. Bernstein assumed coverage on Palo Alto Networks in a research note on Thursday, January 18th. They set an “outperform” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price target on shares of Palo Alto Networks in a research note on Wednesday, April 17th. Evercore ISI increased their price target on Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, Piper Sandler lowered Palo Alto Networks from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $350.00 to $300.00 in a research note on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.82.

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.