750 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by Cross Staff Investments Inc

Cross Staff Investments Inc bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 750 shares of the network technology company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GSG Advisors LLC raised its stake in shares of Palo Alto Networks by 1.0% during the fourth 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. Spirit of America Management Corp NY boosted its holdings in shares of Palo Alto Networks by 50.0% in the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after acquiring an additional 100 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in Palo Alto Networks by 46.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock worth $1,232,000 after purchasing an additional 1,325 shares in the last quarter. Truist Financial Corp lifted its position in Palo Alto Networks by 148.9% in the third quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock worth $44,497,000 after purchasing an additional 113,534 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in 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 valued at $32,143,000 after purchasing an additional 735 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 1.2 %

Shares of PANW traded up $3.39 during trading hours on Friday, hitting $292.18. 1,527,184 shares of the stock traded hands, compared to its average volume of 5,413,754. The business has a fifty day moving average of $289.11 and a 200-day moving average of $291.84. The firm has a market capitalization of $94.40 billion, a PE ratio of 45.67, a price-to-earnings-growth ratio of 4.00 and a beta of 1.19. Palo Alto Networks, Inc. has a 1-year low of $176.30 and a 1-year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (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 company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PANW shares. Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Capital One Financial downgraded shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 target price on the stock. in a research report on Wednesday, February 21st. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Rosenblatt Securities cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $290.00 to $265.00 in a research report on Wednesday, February 21st. Finally, Truist Financial increased their target price on Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Insider Activity

In other news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction 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 owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The disclosure for this sale can be found here. Insiders sold a total of 167,917 shares of company stock valued at $49,395,553 in the last ninety days. 3.30% of the stock is owned by insiders.

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.