Money Concepts Capital Corp boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 23.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,385 shares of the network technology company’s stock after acquiring an additional 2,567 shares during the quarter. Money Concepts Capital Corp’s holdings in Palo Alto Networks were worth $2,466,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Darwin Wealth Management LLC purchased a new stake in shares of Palo Alto Networks in the 2nd quarter worth $25,000. Steph & Co. lifted its holdings in shares of Palo Alto Networks by 88.2% in the 4th quarter. Steph & Co. now owns 143 shares of the network technology company’s stock worth $26,000 after buying an additional 67 shares during the period. Winch Advisory Services LLC lifted its holdings in shares of Palo Alto Networks by 96.1% in the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock worth $30,000 after buying an additional 73 shares during the period. Painted Porch Advisors LLC lifted its holdings in shares of Palo Alto Networks by 72.7% in the 3rd quarter. Painted Porch Advisors LLC now owns 152 shares of the network technology company’s stock worth $31,000 after buying an additional 64 shares during the period. Finally, Caitlin John LLC purchased a new stake in shares of Palo Alto Networks in the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.
Palo Alto Networks Stock Performance
Palo Alto Networks stock opened at $215.60 on Wednesday. The stock has a 50-day moving average of $169.93 and a two-hundred day moving average of $180.60. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $223.61. The stock has a market cap of $175.93 billion, a PE ratio of 119.12, a price-to-earnings-growth ratio of 7.70 and a beta of 0.77.
Analyst Ratings Changes
Several equities research analysts have weighed in on PANW shares. Robert W. Baird set a $220.00 target price on Palo Alto Networks and gave the stock an “outperform” rating in a report on Wednesday, February 18th. JPMorgan Chase & Co. reduced their price target on Palo Alto Networks from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Berenberg Bank set a $215.00 price target on Palo Alto Networks and gave the stock a “buy” rating in a research report on Tuesday, April 21st. New Street Research reduced their price target on Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Finally, Arete Research raised Palo Alto Networks from a “sell” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $212.09.
View Our Latest Research Report on Palo Alto Networks
Insider Buying and Selling
In other news, CAO Josh D. Paul sold 1,100 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $161.40, for a total value of $177,540.00. Following the transaction, the chief accounting officer directly owned 83,136 shares of the company’s stock, valued at approximately $13,418,150.40. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $160.42, for a total value of $802,100.00. Following the completion of the transaction, the executive vice president directly owned 150,250 shares in the company, valued at $24,103,105. This represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,356 shares of company stock valued at $4,981,575 in the last 90 days. 1.40% of the stock is owned by 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.
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