Coppell Advisory Solutions LLC Acquires Shares of 14,308 Palo Alto Networks, Inc. $PANW

Coppell Advisory Solutions LLC acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,308 shares of the network technology company’s stock, valued at approximately $2,870,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after purchasing an additional 4,031 shares in the last quarter. Bison Wealth LLC raised its stake in Palo Alto Networks by 169.1% during the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock valued at $948,000 after buying an additional 3,275 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Palo Alto Networks during the 1st quarter worth approximately $261,000. Kovitz Investment Group Partners LLC grew its position in shares of Palo Alto Networks by 108.7% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 41,050 shares of the network technology company’s stock worth $7,005,000 after acquiring an additional 21,377 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Palo Alto Networks by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,173,651 shares of the network technology company’s stock valued at $200,268,000 after acquiring an additional 13,343 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PANW has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $230.00 price objective on shares of Palo Alto Networks in a research note on Thursday, November 20th. Piper Sandler restated an “overweight” rating and issued a $230.00 price target (up from $225.00) on shares of Palo Alto Networks in a research report on Thursday, November 20th. Tigress Financial began coverage on shares of Palo Alto Networks in a report on Friday, September 26th. They issued a “buy” rating and a $245.00 price target for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $240.00 price objective (up previously from $236.00) on shares of Palo Alto Networks in a research report on Thursday, November 20th. Finally, JMP Securities raised their target price on shares of Palo Alto Networks from $212.00 to $250.00 and gave the stock a “market outperform” rating in a report on Monday, October 27th. Thirty equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.09.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 846,408 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $204.06, for a total value of $172,718,016.48. Following the completion of the sale, the chief executive officer owned 275,013 shares of the company’s stock, valued at $56,119,152.78. This represents a 75.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $217.94, for a total transaction of $26,321,485.56. Following the completion of the transaction, the executive vice president owned 356,409 shares of the company’s stock, valued at $77,675,777.46. This represents a 25.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,228,330 shares of company stock worth $251,702,305 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Up 0.7%

Palo Alto Networks stock opened at $191.69 on Friday. The firm has a 50-day moving average price of $204.67 and a two-hundred day moving average price of $197.51. The firm has a market capitalization of $133.61 billion, a price-to-earnings ratio of 121.32, a PEG ratio of 4.54 and a beta of 0.79. Palo Alto Networks, Inc. has a 52-week low of $144.15 and a 52-week high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. Palo Alto Networks’s revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.56 earnings per share. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current 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.