CVA Family Office LLC Takes $67,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

CVA Family Office LLC acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 228 shares of the network technology company’s stock, valued at approximately $67,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PANW. Worth Asset Management LLC bought a new stake in Palo Alto Networks in the 1st quarter worth approximately $26,000. First Pacific Financial lifted its holdings in shares of Palo Alto Networks by 421.7% in the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of Palo Alto Networks during the 2nd quarter valued at $28,000. Fortis Capital Advisors LLC purchased a new position in Palo Alto Networks in the 4th quarter worth $28,000. Finally, VisionPoint Advisory Group LLC bought a new stake in Palo Alto Networks in the second quarter worth $31,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the sale, the executive vice president now owns 198,105 shares in the company, valued at $56,327,194.65. The disclosure for this sale can be found here. Insiders sold a total of 143,153 shares of company stock valued at $44,107,332 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Down 1.5 %

PANW stock opened at $282.26 on Thursday. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84. The stock has a market cap of $91.20 billion, a P/E ratio of 44.10, a PEG ratio of 3.89 and a beta of 1.21. The business’s 50-day moving average price is $320.33 and its 200-day moving average price is $286.10.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler downgraded Palo Alto Networks from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $350.00 to $300.00 in a report on Wednesday, February 21st. Citigroup raised their target price on shares of Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Evercore ISI upped their price target on shares of Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Barclays lowered their price target on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Finally, Sanford C. Bernstein assumed coverage on shares of Palo Alto Networks in a report on Thursday, January 18th. They issued an “outperform” rating for the company. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Company Profile

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.