Tred Avon Family Wealth LLC Purchases Shares of 12,515 Palo Alto Networks, Inc. $PANW

Tred Avon Family Wealth LLC acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,515 shares of the network technology company’s stock, valued at approximately $2,548,000. Palo Alto Networks makes up approximately 0.9% of Tred Avon Family Wealth LLC’s holdings, making the stock its 25th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the company. Stenger Family Office LLC lifted its stake in Palo Alto Networks by 13.6% in the third quarter. Stenger Family Office LLC now owns 23,273 shares of the network technology company’s stock worth $5,127,000 after acquiring an additional 2,782 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in Palo Alto Networks by 2.5% in the third quarter. Resonant Capital Advisors LLC now owns 17,130 shares of the network technology company’s stock valued at $3,488,000 after buying an additional 425 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Palo Alto Networks by 10.1% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 159,639 shares of the network technology company’s stock valued at $32,494,000 after buying an additional 14,670 shares in the last quarter. Aviance Capital Partners LLC acquired a new position in shares of Palo Alto Networks during the 3rd quarter worth about $405,000. Finally, Maryland State Retirement & Pension System increased its holdings in shares of Palo Alto Networks by 2.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 32,756 shares of the network technology company’s stock valued at $6,670,000 after acquiring an additional 829 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $188.18, for a total transaction of $940,900.00. Following the completion of the transaction, the executive vice president owned 155,119 shares in the company, valued at approximately $29,190,293.42. This represents a 3.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 800 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $184.81, for a total transaction of $147,848.00. Following the completion of the sale, the chief accounting officer owned 46,005 shares of the company’s stock, valued at $8,502,184.05. This trade represents a 1.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 382,016 shares of company stock valued at $76,386,460 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of research analyst reports. Stephens upped their price target on Palo Alto Networks from $205.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday, November 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $245.00 target price (up from $228.00) on shares of Palo Alto Networks in a research report on Thursday, December 18th. Tigress Financial began coverage on shares of Palo Alto Networks in a research report on Friday, September 26th. They issued a “buy” rating and a $245.00 price target for the company. Royal Bank Of Canada upped their price objective on shares of Palo Alto Networks from $232.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective 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, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $229.09.

Palo Alto Networks Stock Performance

Shares of PANW opened at $187.66 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $144.15 and a fifty-two week high of $223.61. The firm has a 50-day simple moving average of $191.35 and a 200-day simple moving average of $195.67. The company has a market capitalization of $130.80 billion, a price-to-earnings ratio of 118.77, a price-to-earnings-growth ratio of 4.47 and a beta of 0.76.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the business earned $1.56 EPS. The firm’s revenue was up 15.7% compared to the same quarter last year. Equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.