Mirabella Financial Services LLP Raises Position in Palo Alto Networks, Inc. $PANW

Mirabella Financial Services LLP raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 162.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,645 shares of the network technology company’s stock after buying an additional 7,205 shares during the period. Mirabella Financial Services LLP’s holdings in Palo Alto Networks were worth $2,367,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Klingman & Associates LLC lifted its position in shares of Palo Alto Networks by 2.2% in the third quarter. Klingman & Associates LLC now owns 2,131 shares of the network technology company’s stock valued at $434,000 after acquiring an additional 46 shares in the last quarter. Contravisory Investment Management Inc. increased its position in shares of Palo Alto Networks by 1.8% during the third quarter. Contravisory Investment Management Inc. now owns 2,742 shares of the network technology company’s stock worth $558,000 after purchasing an additional 48 shares in the last quarter. Mattern Wealth Management LLC raised its stake in Palo Alto Networks by 2.9% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,692 shares of the network technology company’s stock valued at $345,000 after purchasing an additional 48 shares during the last quarter. PTM Wealth Management LLC raised its stake in Palo Alto Networks by 4.0% in the 3rd quarter. PTM Wealth Management LLC now owns 1,300 shares of the network technology company’s stock valued at $276,000 after purchasing an additional 50 shares during the last quarter. Finally, Arlington Trust Co LLC lifted its holdings in Palo Alto Networks by 4.8% in the 3rd quarter. Arlington Trust Co LLC now owns 1,088 shares of the network technology company’s stock valued at $222,000 after purchasing an additional 50 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Piper Sandler reissued an “overweight” rating and issued a $265.00 price target (up from $230.00) on shares of Palo Alto Networks in a research note on Monday, January 5th. Loop Capital lowered their price target on shares of Palo Alto Networks from $190.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, February 18th. Stephens upped their price objective on shares of Palo Alto Networks from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, November 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Palo Alto Networks in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.19.

Insider Activity

In other news, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total value of $940,900.00. Following the transaction, the executive vice president owned 155,119 shares in the company, valued at approximately $29,190,293.42. This represents a 3.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James J. Goetz sold 22,684 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the sale, the director directly owned 52,500 shares in the company, valued at approximately $8,631,525. The trade was a 30.17% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 149,252 shares of company stock valued at $27,888,535. 1.40% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Up 0.3%

NASDAQ PANW opened at $167.45 on Tuesday. The business’s fifty day simple moving average is $169.55 and its 200-day simple moving average is $189.35. The firm has a market cap of $136.64 billion, a PE ratio of 92.51, a P/E/G ratio of 6.03 and a beta of 0.78. Palo Alto Networks, Inc. has a 52 week low of $139.57 and a 52 week high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.09. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. Palo Alto Networks’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next?generation firewalls as a core on?premises capability, alongside cloud?delivered security services and software for securing public and private clouds.