Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Triumph Capital Management

Triumph Capital Management grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 87.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,473 shares of the network technology company’s stock after buying an additional 3,957 shares during the quarter. Palo Alto Networks comprises 1.1% of Triumph Capital Management’s investment portfolio, making the stock its 19th biggest holding. Triumph Capital Management’s holdings in Palo Alto Networks were worth $2,499,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. First Pacific Financial raised its holdings in Palo Alto Networks by 421.7% during the third 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 last quarter. Webster Bank N. A. raised its holdings in Palo Alto Networks by 607.1% during the fourth 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 last quarter. Cedar Mountain Advisors LLC raised its holdings in Palo Alto Networks by 87.0% during the fourth 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 last quarter. Byrne Asset Management LLC raised its holdings in Palo Alto Networks by 277.8% during the third 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 last quarter. Finally, MV Capital Management Inc. raised its holdings in shares of Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after acquiring an additional 29 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded down $2.61 during trading on Wednesday, hitting $288.28. The company’s stock had a trading volume of 1,686,771 shares, compared to its average volume of 5,322,639. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84. The stock’s 50-day moving average price is $284.64 and its two-hundred day moving average price is $293.04. The company has a market capitalization of $93.14 billion, a PE ratio of 44.65, a PEG ratio of 3.99 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping 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 analysts’ expectations of $1.97 billion. On average, equities analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PANW. BMO Capital Markets cut their price target 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. Barclays cut their price target on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Stifel Nicolaus reissued a “buy” rating and issued a $330.00 price target on shares of Palo Alto Networks in a report on Wednesday, March 13th. Redburn Atlantic boosted their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Piper Sandler cut Palo Alto Networks from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $350.00 to $300.00 in a report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated 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 owns 174,075 shares in the company, valued at $46,659,063. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President William D. Jenkins, Jr. sold 1,867 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,917 shares of company stock worth $33,959,203. 3.30% of the stock is currently owned by corporate insiders.

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.