John G Ullman & Associates Inc. Acquires 41 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

John G Ullman & Associates Inc. lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,078 shares of the network technology company’s stock after acquiring an additional 41 shares during the period. John G Ullman & Associates Inc.’s holdings in Palo Alto Networks were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Covestor Ltd lifted its position in shares of Palo Alto Networks by 61.8% in the first quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock worth $35,000 after buying an additional 21 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Palo Alto Networks by 0.8% in the first quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company’s stock worth $1,843,000 after buying an additional 23 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Palo Alto Networks by 6.5% in the first quarter. Brighton Jones LLC now owns 425 shares of the network technology company’s stock worth $265,000 after buying an additional 26 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of Palo Alto Networks by 6.4% in the first quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company’s stock worth $281,000 after buying an additional 27 shares in the last quarter. Finally, MV Capital Management Inc. lifted its position in shares of Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after buying an additional 29 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PANW. The Goldman Sachs Group boosted their target price on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada upped their price objective on Palo Alto Networks to $420.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. KeyCorp decreased their price objective on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a research report on Thursday. Mizuho decreased their price objective 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. Finally, Piper Sandler downgraded Palo Alto Networks from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $350.00 to $300.00 in a report 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks Trading Down 1.2 %

PANW stock opened at $277.71 on Friday. Palo Alto Networks, Inc. has a 12-month low of $176.30 and a 12-month high of $380.84. The stock has a market cap of $89.73 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 3.83 and a beta of 1.19. The business’s 50-day moving average is $295.46 and its 200 day moving average is $290.40.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. 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 36.58% and a net margin of 30.24%. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other 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 transaction of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now directly owns 174,075 shares in the company, valued at approximately $46,659,063. The disclosure for this sale can be found here. Insiders have sold a total of 167,917 shares of company stock worth $49,395,553 in the last ninety days. Insiders own 3.30% of the company’s stock.

About Palo Alto Networks

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.