Pallas Capital Advisors LLC Has $4.97 Million Holdings in Palo Alto Networks, Inc. $PANW

Pallas Capital Advisors LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 16.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,964 shares of the network technology company’s stock after acquiring an additional 3,879 shares during the period. Pallas Capital Advisors LLC’s holdings in Palo Alto Networks were worth $4,967,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Wolff Wiese Magana LLC grew its position in Palo Alto Networks by 13.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 5,479 shares of the network technology company’s stock valued at $1,009,000 after acquiring an additional 629 shares during the period. International Private Wealth Advisors LLC lifted its holdings in shares of Palo Alto Networks by 38.4% during the fourth quarter. International Private Wealth Advisors LLC now owns 5,765 shares of the network technology company’s stock valued at $1,062,000 after acquiring an additional 1,599 shares during the period. Accurate Wealth Management LLC lifted its holdings in shares of Palo Alto Networks by 5.6% during the fourth quarter. Accurate Wealth Management LLC now owns 3,857 shares of the network technology company’s stock valued at $729,000 after acquiring an additional 206 shares during the period. Trinity Financial Advisors LLC boosted its stake in shares of Palo Alto Networks by 7.1% in the 4th quarter. Trinity Financial Advisors LLC now owns 3,389 shares of the network technology company’s stock valued at $624,000 after purchasing an additional 225 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its holdings in shares of Palo Alto Networks by 2.5% in the 4th quarter. Capital Investment Advisors LLC now owns 9,627 shares of the network technology company’s stock worth $1,773,000 after purchasing an additional 237 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 6.0%

Palo Alto Networks stock opened at $147.02 on Friday. The business’s 50-day simple moving average is $164.41 and its 200 day simple moving average is $187.43. The stock has a market cap of $119.97 billion, a price-to-earnings ratio of 81.23, a P/E/G ratio of 5.64 and a beta of 0.78. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.09. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 EPS. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 800 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total value of $147,848.00. Following the transaction, the chief accounting officer directly owned 46,005 shares of the company’s stock, valued at approximately $8,502,184.05. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James J. Goetz sold 22,684 shares of Palo Alto Networks stock in a transaction on Friday, March 6th. The stock was sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the sale, the director directly owned 52,500 shares of the company’s stock, valued at $8,631,525. This represents a 30.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 144,252 shares of company stock valued at $26,947,635. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of recent analyst reports. Robert W. Baird set a $220.00 target price on shares of Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Needham & Company LLC decreased their price objective on shares of Palo Alto Networks from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. DA Davidson set a $190.00 price objective on shares of Palo Alto Networks and gave the stock a “buy” rating in a report on Wednesday, February 18th. New Street Research cut their target price on shares of Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Finally, Argus raised Palo Alto Networks to a “strong-buy” rating in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.19.

Palo Alto Networks Profile

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.