Yousif Capital Management LLC Has $15.20 Million Holdings in Palo Alto Networks, Inc. $PANW

Yousif Capital Management LLC lessened its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 74,660 shares of the network technology company’s stock after selling 3,538 shares during the period. Yousif Capital Management LLC’s holdings in Palo Alto Networks were worth $15,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after purchasing an additional 4,031 shares during the period. Bison Wealth LLC grew 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 valued at $948,000 after buying an additional 3,275 shares during the last quarter. ICONIQ Capital LLC increased its position in Palo Alto Networks by 39.2% in the 1st quarter. ICONIQ Capital LLC now owns 3,515 shares of the network technology company’s stock worth $600,000 after buying an additional 989 shares during the period. Comerica Bank lifted its holdings in shares of Palo Alto Networks by 5.1% during the first quarter. Comerica Bank now owns 225,799 shares of the network technology company’s stock worth $38,530,000 after buying an additional 10,939 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Palo Alto Networks by 93.1% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,719 shares of the network technology company’s stock worth $293,000 after buying an additional 829 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Up 1.4%

NASDAQ PANW opened at $189.49 on Tuesday. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61. The stock has a market cap of $132.07 billion, a P/E ratio of 119.93, a PEG ratio of 4.43 and a beta of 0.79. The company’s 50-day simple moving average is $201.48 and its 200 day simple moving average is $197.29.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the company earned $1.56 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on PANW. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 target price on shares of Palo Alto Networks in a research report on Thursday, November 20th. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a report on Thursday, November 20th. Northland Securities upped their price objective on shares of Palo Alto Networks from $177.00 to $190.00 and gave the company a “market perform” rating in a research report on Thursday, November 20th. Sanford C. Bernstein lifted their target price on Palo Alto Networks from $207.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of Palo Alto Networks in a report on Thursday, November 20th. Thirty-one investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $226.20.

Insider Activity at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $191.91, for a total value of $23,177,738.34. Following the sale, the executive vice president owned 327,645 shares in the company, valued at approximately $62,878,351.95. The trade was a 26.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $189.39, for a total transaction of $132,573.00. Following the completion of the sale, the chief accounting officer directly owned 46,805 shares in the company, valued at approximately $8,864,398.95. The trade was a 1.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 376,922 shares of company stock valued at $77,963,339 in the last 90 days. 1.40% of the stock is owned by corporate 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.