Ocean Capital Management LLC Has $1.64 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Ocean Capital Management LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 70.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,569 shares of the network technology company’s stock after purchasing an additional 2,294 shares during the period. Palo Alto Networks accounts for approximately 0.7% of Ocean Capital Management LLC’s portfolio, making the stock its 20th largest position. Ocean Capital Management LLC’s holdings in Palo Alto Networks were worth $1,642,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. GSG Advisors LLC boosted its position in shares of Palo Alto Networks by 1.0% during the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after purchasing an additional 51 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Palo Alto Networks by 148.9% during the 3rd quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock worth $44,497,000 after buying an additional 113,534 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of Palo Alto Networks by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock worth $32,143,000 after buying an additional 735 shares during the period. Clough Capital Partners L P increased its stake in shares of Palo Alto Networks by 61.5% in the 3rd quarter. Clough Capital Partners L P now owns 61,120 shares of the network technology company’s stock valued at $14,329,000 after acquiring an additional 23,265 shares in the last quarter. Finally, Investment Management Corp of Ontario acquired a new position in shares of Palo Alto Networks during the 2nd quarter valued at $7,002,000. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at $7,629,160. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 27,247 shares in the company, valued at approximately $7,629,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Donovan sold 7,000 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $330.03, for a total transaction of $2,310,210.00. Following the sale, the director now directly owns 33,352 shares in the company, valued at approximately $11,007,160.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,153 shares of company stock valued at $44,107,332. 3.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PANW. Raymond James downgraded shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Truist Financial boosted their target price on Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Redburn Atlantic increased 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. Wedbush boosted their price objective on Palo Alto Networks from $350.00 to $425.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Mizuho lowered their target price on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Stock Up 0.7 %

Palo Alto Networks stock opened at $284.13 on Friday. The company has a market capitalization of $91.80 billion, a P/E ratio of 44.40, a P/E/G ratio of 3.85 and a beta of 1.21. The firm has a 50 day moving average price of $319.37 and a 200-day moving average price of $286.07. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84.

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

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.