1,882 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,882 shares of the network technology company’s stock, valued at approximately $555,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Webster Bank N. A. increased its position in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares during the period. Cedar Mountain Advisors LLC increased its position in Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares during the period. MV Capital Management Inc. increased its position in Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after purchasing an additional 29 shares during the period. First Pacific Financial increased its position in Palo Alto Networks by 421.7% during the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after purchasing an additional 97 shares during the period. Finally, Byrne Asset Management LLC increased its position in Palo Alto Networks by 277.8% during the 3rd quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock worth $32,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on PANW shares. The Goldman Sachs Group boosted their target price on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Piper Sandler cut Palo Alto Networks from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $350.00 to $300.00 in a research report on Wednesday, February 21st. BMO Capital Markets dropped their target price on Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Oppenheimer boosted their target price on Palo Alto Networks from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, Citigroup upped their price target on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Stock Up 1.4 %

Shares of Palo Alto Networks stock opened at $281.68 on Tuesday. The firm has a market cap of $91.01 billion, a PE ratio of 44.01, a P/E/G ratio of 3.79 and a beta of 1.19. The business’s fifty day moving average is $293.65 and its two-hundred day moving average is $291.51. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.