EagleClaw Capital Managment LLC Buys 4,925 Shares of Palo Alto Networks, Inc. $PANW

EagleClaw Capital Managment LLC lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,478 shares of the network technology company’s stock after purchasing an additional 4,925 shares during the period. Palo Alto Networks accounts for 2.2% of EagleClaw Capital Managment LLC’s investment portfolio, making the stock its 12th biggest holding. EagleClaw Capital Managment LLC’s holdings in Palo Alto Networks were worth $15,572,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Brevan Howard Capital Management LP increased its position in Palo Alto Networks by 15.6% in the third quarter. Brevan Howard Capital Management LP now owns 37,889 shares of the network technology company’s stock worth $7,715,000 after buying an additional 5,113 shares during the last quarter. Brick & Kyle Associates lifted its position in shares of Palo Alto Networks by 29.8% during the 3rd quarter. Brick & Kyle Associates now owns 27,301 shares of the network technology company’s stock valued at $5,559,000 after buying an additional 6,266 shares during the last quarter. Ceeto Capital Group LLC purchased a new position in shares of Palo Alto Networks during the 3rd quarter valued at $1,222,000. Cinctive Capital Management LP bought a new position in shares of Palo Alto Networks during the 3rd quarter worth $1,222,000. Finally, Clark Capital Management Group Inc. grew its stake in shares of Palo Alto Networks by 18.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 2,171 shares of the network technology company’s stock worth $442,000 after acquiring an additional 340 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PANW shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Truist Financial set a $200.00 price objective on shares of Palo Alto Networks and gave the stock a “buy” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. reduced their price objective on shares of Palo Alto Networks from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. TD Cowen reissued a “buy” rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. Finally, Morgan Stanley restated an “overweight” rating and set a $223.00 target price (down from $245.00) on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.19.

Palo Alto Networks Trading Down 0.7%

PANW stock opened at $167.01 on Friday. The firm has a 50 day moving average of $169.84 and a 200-day moving average of $189.50. The firm has a market capitalization of $136.28 billion, a P/E ratio of 92.27, a price-to-earnings-growth ratio of 6.03 and a beta of 0.78. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. Palo Alto Networks’s revenue was up 14.9% on a year-over-year basis. Sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity

In other news, CAO Josh D. Paul sold 800 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total value of $147,848.00. Following the transaction, the chief accounting officer owned 46,005 shares of the company’s stock, valued at approximately $8,502,184.05. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total value of $940,900.00. Following the completion of the sale, the executive vice president owned 155,119 shares in the company, valued at $29,190,293.42. This trade represents a 3.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,252 shares of company stock valued at $27,888,535 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks 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.