Palo Alto Networks, Inc. $PANW Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 19.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,541 shares of the network technology company’s stock after selling 2,869 shares during the period. KG&L Capital Management LLC’s holdings in Palo Alto Networks were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in shares of Palo Alto Networks in the second quarter valued at $25,000. Whipplewood Advisors LLC boosted its stake in shares of Palo Alto Networks by 6,400.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after acquiring an additional 128 shares in the last quarter. Briaud Financial Planning Inc acquired a new position in shares of Palo Alto Networks in the 2nd quarter worth $28,000. Howard Hughes Medical Institute acquired a new stake in shares of Palo Alto Networks during the second quarter worth $29,000. Finally, MTM Investment Management LLC purchased a new stake in shares of Palo Alto Networks during the second quarter valued at $31,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Up 1.5%

PANW stock opened at $182.12 on Tuesday. The company has a 50 day moving average of $196.19 and a two-hundred day moving average of $196.40. The company has a market cap of $126.94 billion, a price-to-earnings ratio of 115.27, a PEG ratio of 4.28 and a beta of 0.76. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.56 earnings per share. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Transactions at Palo Alto Networks

In related news, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $188.18, for a total transaction of $940,900.00. Following the transaction, the executive vice president owned 155,119 shares of the company’s stock, valued at approximately $29,190,293.42. This trade represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $189.39, for a total transaction of $132,573.00. Following the completion of the sale, the chief accounting officer owned 46,805 shares of the company’s stock, valued at $8,864,398.95. This trade represents a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 260,448 shares of company stock valued at $53,168,301 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PANW shares. Northland Securities boosted their price objective on Palo Alto Networks from $177.00 to $190.00 and gave the stock a “market perform” rating in a report on Thursday, November 20th. BTIG Research reissued a “buy” rating on shares of Palo Alto Networks in a research report on Wednesday, December 17th. New Street Research upped their price target on shares of Palo Alto Networks from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, September 12th. BMO Capital Markets raised their price objective on shares of Palo Alto Networks from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Palo Alto Networks in a research note on Monday, November 24th. Thirty-one equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $227.06.

Palo Alto Networks Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.