NBW Capital LLC Has $9.07 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

NBW Capital LLC trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,745 shares of the network technology company’s stock after selling 525 shares during the period. Palo Alto Networks accounts for 2.0% of NBW Capital LLC’s portfolio, making the stock its 10th biggest position. NBW Capital LLC’s holdings in Palo Alto Networks were worth $9,066,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PANW. Norges Bank bought a new position in Palo Alto Networks during the 4th quarter worth $751,276,000. International Assets Investment Management LLC grew its position in shares of Palo Alto Networks by 29,086.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after acquiring an additional 2,050,917 shares during the last quarter. Moneta Group Investment Advisors LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter worth about $204,728,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Palo Alto Networks in the 4th quarter worth about $85,025,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in Palo Alto Networks by 6,453.6% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock valued at $102,670,000 after purchasing an additional 431,228 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the transaction, the executive vice president now owns 198,105 shares of the company’s stock, valued at approximately $56,327,194.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the transaction, the executive vice president now owns 198,105 shares in the company, valued at approximately $56,327,194.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 owns 27,247 shares of the company’s stock, valued at $7,629,160. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,917 shares of company stock valued at $49,395,553. Insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PANW. Redburn Atlantic upped their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Susquehanna lowered their target price on Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a research report on Monday, February 26th. Truist Financial lifted their target price on Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. KeyCorp decreased their price target on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Piper Sandler cut shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $350.00 to $300.00 in a research note on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $3.04 during trading on Thursday, hitting $280.37. 1,999,750 shares of the stock traded hands, compared to its average volume of 5,570,967. The stock has a market cap of $90.59 billion, a P/E ratio of 44.04, a PEG ratio of 3.75 and a beta of 1.19. The company has a fifty day moving average price of $299.16 and a two-hundred day moving average price of $290.18. 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 issued 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 firm had revenue of $1.98 billion for the quarter, compared to analyst estimates 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 EPS for the current fiscal year.

Palo Alto Networks 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.