Prime Capital Investment Advisors LLC Increases Stake in Palo Alto Networks, Inc. $PANW

Prime Capital Investment Advisors LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 92,391 shares of the network technology company’s stock after acquiring an additional 3,459 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Palo Alto Networks were worth $17,018,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PANW. Brighton Jones LLC increased its holdings in Palo Alto Networks by 147.7% in the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after acquiring an additional 4,031 shares during the last quarter. Bison Wealth LLC increased its holdings in Palo Alto Networks by 169.1% in the 4th quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock worth $948,000 after acquiring an additional 3,275 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Palo Alto Networks by 66.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock worth $713,000 after acquiring an additional 1,389 shares during the last quarter. Stamos Capital Partners L.P. increased its holdings in Palo Alto Networks by 49.5% in the 2nd quarter. Stamos Capital Partners L.P. now owns 10,682 shares of the network technology company’s stock worth $2,186,000 after acquiring an additional 3,537 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Palo Alto Networks by 12.5% in the 2nd quarter. NewEdge Advisors LLC now owns 113,885 shares of the network technology company’s stock worth $23,305,000 after acquiring an additional 12,677 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Benchmark assumed coverage on Palo Alto Networks in a report on Wednesday, April 1st. They issued a “buy” rating and a $200.00 price objective for the company. Daiwa Securities Group decreased their price objective on Palo Alto Networks from $212.00 to $175.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. BTIG Research restated a “buy” rating and issued a $200.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Barclays set a $200.00 target price on Palo Alto Networks and gave the stock an “overweight” rating in a research note on Monday, February 9th. Finally, Guggenheim restated a “neutral” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $209.95.

Palo Alto Networks Stock Up 2.3%

Shares of NASDAQ PANW opened at $173.78 on Thursday. Palo Alto Networks, Inc. has a 52 week low of $139.57 and a 52 week high of $223.61. The business has a 50-day simple moving average of $161.22 and a two-hundred day simple moving average of $185.23. The company has a market cap of $141.80 billion, a P/E ratio of 96.01, a P/E/G ratio of 5.89 and a beta of 0.77.

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

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 1,100 shares of Palo Alto Networks stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $161.40, for a total transaction of $177,540.00. Following the completion of the sale, the chief accounting officer owned 83,136 shares in the company, valued at approximately $13,418,150.40. This trade represents a 1.31% decrease in their position. The sale 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 Palo Alto Networks stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $164.41, for a total value of $3,729,476.44. Following the sale, the director owned 52,500 shares of the company’s stock, valued at approximately $8,631,525. This trade represents a 30.17% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 28,784 shares of company stock worth $4,709,116. 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.