Sage Mountain Advisors LLC Purchases 348 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Sage Mountain Advisors LLC increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 37.2% during the 4th quarter, Holdings Channel reports. The firm owned 1,284 shares of the network technology company’s stock after acquiring an additional 348 shares during the period. Sage Mountain Advisors LLC’s holdings in Palo Alto Networks were worth $379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. MV Capital Management Inc. raised its position in shares of Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 29 shares during the period. Quent Capital LLC increased its holdings in Palo Alto Networks by 15.9% in the 4th quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after acquiring an additional 32 shares during the last quarter. Parisi Gray Wealth Management increased its holdings in Palo Alto Networks by 2.2% in the 4th quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock valued at $448,000 after acquiring an additional 33 shares during the last quarter. Howard Financial Services LTD. increased its holdings in Palo Alto Networks by 3.4% in the 4th quarter. Howard Financial Services LTD. now owns 1,061 shares of the network technology company’s stock valued at $313,000 after acquiring an additional 35 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in Palo Alto Networks by 20.5% in the 4th quarter. SJS Investment Consulting Inc. now owns 206 shares of the network technology company’s stock valued at $61,000 after acquiring an additional 35 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $281.68 on Tuesday. Palo Alto Networks, Inc. has a one year low of $176.30 and a one year high of $380.84. The firm has a market cap of $91.01 billion, a P/E ratio of 44.01, a P/E/G ratio of 3.79 and a beta of 1.19. The firm has a 50-day simple moving average of $293.65 and a 200-day simple moving average of $291.51.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results 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. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. On average, research analysts predict that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the transaction, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the transaction, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the transaction, the executive vice president now owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The disclosure for this sale can be found here. Insiders sold a total of 167,917 shares of company stock worth $49,395,553 in the last 90 days. 3.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of research reports. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a report on Monday, January 29th. Loop Capital downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Wednesday, February 21st. Evercore ISI lifted 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. Truist Financial lifted their price target on shares of Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Finally, Susquehanna reduced their target price on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a report on Monday, February 26th. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.