Gilder Gagnon Howe & Co. LLC Acquires 5,496 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,840 shares of the network technology company’s stock after buying an additional 5,496 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Palo Alto Networks were worth $22,953,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PANW. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter valued at $27,000. Webster Bank N. A. boosted its holdings in shares of Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after buying an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC boosted its holdings in shares of Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after buying an additional 47 shares in the last quarter. MV Capital Management Inc. raised its position in shares of Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after purchasing an additional 29 shares during the last quarter. Finally, First United Bank & Trust purchased a new position in shares of Palo Alto Networks in the 4th quarter worth about $35,000. Institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In related news, Director Aparna Bawa sold 322 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the sale, the director now owns 3,767 shares in the company, valued at approximately $1,167,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Aparna Bawa sold 322 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the sale, the director now owns 3,767 shares in the company, valued at approximately $1,167,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Key sold 2,163 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the sale, the director now owns 12,639 shares in the company, valued at approximately $3,860,076.99. The disclosure for this sale can be found here. Insiders have sold 258,182 shares of company stock valued at $74,850,597 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PANW shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $360.00 price target on shares of Palo Alto Networks in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Piper Sandler lowered Palo Alto Networks from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $350.00 to $300.00 in a research report on Wednesday, February 21st. KeyCorp lifted their price target on Palo Alto Networks from $355.00 to $384.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 price target on shares of Palo Alto Networks in a research report on Wednesday, April 17th. Twelve research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $322.78.

Read Our Latest Stock Analysis on PANW

Palo Alto Networks Stock Performance

Shares of PANW traded up $0.48 during mid-day trading on Thursday, hitting $320.27. 1,742,122 shares of the stock were exchanged, compared to its average volume of 4,950,745. The company has a market cap of $103.70 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 4.76 and a beta of 1.10. Palo Alto Networks, Inc. has a 52-week low of $201.17 and a 52-week high of $380.84. The firm has a 50-day moving average of $295.92 and a two-hundred day moving average of $304.53.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last issued its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

About Palo Alto Networks

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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