Evergreen Capital Management LLC Sells 4,170 Shares of Palo Alto Networks, Inc. $PANW

Evergreen Capital Management LLC lessened its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,142 shares of the network technology company’s stock after selling 4,170 shares during the period. Evergreen Capital Management LLC’s holdings in Palo Alto Networks were worth $9,052,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its stake in shares of Palo Alto Networks by 29.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 32,155 shares of the network technology company’s stock valued at $6,547,000 after purchasing an additional 7,301 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Palo Alto Networks during the 3rd quarter valued at about $75,412,000. American Century Companies Inc. boosted its stake in shares of Palo Alto Networks by 134.1% during the 3rd quarter. American Century Companies Inc. now owns 672,129 shares of the network technology company’s stock valued at $136,859,000 after purchasing an additional 384,985 shares in the last quarter. US Bancorp DE boosted its stake in shares of Palo Alto Networks by 0.6% during the 3rd quarter. US Bancorp DE now owns 1,364,442 shares of the network technology company’s stock valued at $277,828,000 after purchasing an additional 8,344 shares in the last quarter. Finally, Silver Oak Securities Incorporated boosted its stake in shares of Palo Alto Networks by 240.1% during the 3rd quarter. Silver Oak Securities Incorporated now owns 11,732 shares of the network technology company’s stock valued at $2,389,000 after purchasing an additional 8,282 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $169.56 on Tuesday. The firm has a market capitalization of $138.36 billion, a P/E ratio of 93.68, a PEG ratio of 6.05 and a beta of 0.77. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $223.61. The company’s 50-day simple moving average is $160.69 and its 200 day simple moving average is $182.83.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results 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 business 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%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays set a $200.00 target price on shares of Palo Alto Networks and gave the company an “overweight” rating in a research note on Monday, February 9th. Guggenheim reissued a “neutral” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Loop Capital dropped their price objective on shares of Palo Alto Networks from $190.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, February 18th. Finally, Robert W. Baird set a $220.00 price objective on shares of Palo Alto Networks and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Two 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $209.95.

Insiders Place Their Bets

In other Palo Alto Networks news, 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 completion of the transaction, the director directly owned 52,500 shares of the company’s stock, valued at approximately $8,631,525. The trade was a 30.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chief accounting officer directly owned 83,136 shares of the company’s stock, valued at $13,418,150.40. This trade represents a 1.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 30,356 shares of company stock valued at $4,981,575. 1.40% of the stock is owned by company insiders.

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.