WD Rutherford LLC Sells 80 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

WD Rutherford LLC reduced its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,460 shares of the network technology company’s stock after selling 80 shares during the quarter. Palo Alto Networks makes up about 2.0% of WD Rutherford LLC’s holdings, making the stock its 21st largest position. WD Rutherford LLC’s holdings in Palo Alto Networks were worth $3,379,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Palo Alto Networks by 1.2% during the third quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock worth $6,215,410,000 after acquiring an additional 304,272 shares during the period. Northern Trust Corp increased its position in Palo Alto Networks by 2.6% in the third quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock worth $804,199,000 after buying an additional 86,995 shares during the last quarter. Jennison Associates LLC increased its position in Palo Alto Networks by 83.1% in the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after buying an additional 1,187,915 shares during the last quarter. International Assets Investment Management LLC increased its position in Palo Alto Networks by 29,086.9% in the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after buying an additional 2,050,917 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Palo Alto Networks by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,662,820 shares of the network technology company’s stock worth $389,832,000 after buying an additional 36,859 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PANW shares. Citigroup raised their target price on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Truist Financial lifted their price target on Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research report on Monday, January 29th. Barclays reduced their price target on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks Stock Up 0.9 %

Palo Alto Networks stock opened at $291.42 on Friday. The company has a market capitalization of $94.16 billion, a P/E ratio of 45.53, a PEG ratio of 3.93 and a beta of 1.19. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84. The stock’s 50 day moving average is $287.61 and its 200 day moving average is $292.10.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $67,955,958.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $67,955,958.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. In the last three months, insiders have sold 167,917 shares of company stock worth $49,395,553. Insiders own 3.30% of the company’s stock.

About Palo Alto Networks

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.