Kraft Davis & Associates LLC Sells 47 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Kraft Davis & Associates LLC decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,676 shares of the network technology company’s stock after selling 47 shares during the period. Kraft Davis & Associates LLC’s holdings in Palo Alto Networks were worth $494,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Palo Alto Networks in the fourth quarter worth about $751,276,000. International Assets Investment Management LLC raised its holdings in shares of Palo Alto Networks by 29,086.9% during 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 acquiring an additional 2,050,917 shares during the period. Moneta Group Investment Advisors LLC bought a new stake in Palo Alto Networks in the 4th quarter valued at $204,728,000. T. Rowe Price Investment Management Inc. acquired a new position in Palo Alto Networks in the 4th quarter worth $85,025,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Palo Alto Networks by 6,453.6% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock worth $102,670,000 after buying an additional 431,228 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In related news, President William D. Jenkins, Jr. sold 1,867 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the sale, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the sale, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at $67,955,958.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Trading Down 1.2 %

PANW stock traded down $3.43 during mid-day trading on Friday, reaching $277.71. The company’s stock had a trading volume of 4,748,725 shares, compared to its average volume of 5,585,325. Palo Alto Networks, Inc. has a 12 month low of $176.30 and a 12 month high of $380.84. The business’s 50 day moving average price is $295.46 and its 200 day moving average price is $290.40. The company has a market cap of $89.73 billion, a price-to-earnings ratio of 43.39, a price-to-earnings-growth ratio of 3.78 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The company 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 2.76 EPS for the current fiscal year.

Analysts Set New Price Targets

PANW has been the topic of a number of research reports. Capital One Financial lowered shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price objective on the stock. in a research report on Wednesday, February 21st. BMO Capital Markets decreased their price objective on Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. The Goldman Sachs Group upped their target price on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Piper Sandler cut Palo Alto Networks from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $350.00 to $300.00 in a research report on Wednesday, February 21st. Finally, Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.82.

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.