Anderson Hoagland & Co. Buys 3,613 Shares of Palo Alto Networks, Inc. $PANW

Anderson Hoagland & Co. grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,954 shares of the network technology company’s stock after purchasing an additional 3,613 shares during the period. Anderson Hoagland & Co.’s holdings in Palo Alto Networks were worth $4,965,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PANW. Klingman & Associates LLC lifted its stake in shares of Palo Alto Networks by 2.2% in the 3rd 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 during the last quarter. Contravisory Investment Management Inc. grew its position in Palo Alto Networks by 1.8% during the 3rd quarter. Contravisory Investment Management Inc. now owns 2,742 shares of the network technology company’s stock worth $558,000 after acquiring an additional 48 shares during the last quarter. Mattern Wealth Management LLC grew its position in Palo Alto Networks by 2.9% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,692 shares of the network technology company’s stock worth $345,000 after acquiring an additional 48 shares during the last quarter. PTM Wealth Management LLC increased its holdings 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 worth $276,000 after purchasing an additional 50 shares in the last quarter. Finally, Arlington Trust Co LLC raised its position in Palo Alto Networks by 4.8% in the third 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 during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 155,119 shares of the company’s stock, valued at approximately $29,190,293.42. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 800 shares of Palo Alto Networks stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total transaction of $147,848.00. Following the completion of the sale, the chief accounting officer owned 46,005 shares of the company’s stock, valued at $8,502,184.05. This represents a 1.71% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 149,252 shares of company stock valued at $27,888,535. Insiders own 1.40% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $169.74 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $223.61. The company has a 50 day simple moving average of $168.30 and a two-hundred day simple moving average of $188.93. The company has a market capitalization of $138.51 billion, a PE ratio of 93.78, a P/E/G ratio of 6.10 and a beta of 0.78.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) 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 firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

PANW has been the topic of a number of recent research reports. New Street Research cut their price target on Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Palo Alto Networks in a research note on Thursday, November 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $250.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.19.

About Palo Alto Networks

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.