Flagship Harbor Advisors LLC Reduces Position in Palo Alto Networks, Inc. $PANW

Flagship Harbor Advisors LLC lessened its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 50.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,040 shares of the network technology company’s stock after selling 5,168 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Palo Alto Networks were worth $928,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Darwin Wealth Management LLC purchased a new position in shares of Palo Alto Networks during the second quarter valued at approximately $25,000. Winch Advisory Services LLC boosted its holdings in shares of Palo Alto Networks by 96.1% in the third quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 73 shares during the period. Painted Porch Advisors LLC boosted its holdings in shares of Palo Alto Networks by 72.7% in the third quarter. Painted Porch Advisors LLC now owns 152 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 64 shares during the period. Caitlin John LLC purchased a new stake in shares of Palo Alto Networks in the third quarter valued at approximately $31,000. Finally, Palisade Asset Management LLC purchased a new stake in shares of Palo Alto Networks in the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PANW shares. Robert W. Baird set a $220.00 price target on Palo Alto Networks and gave the company an “outperform” rating in a report on Wednesday, February 18th. Truist Financial set a $200.00 price target on Palo Alto Networks and gave the company a “buy” rating in a report on Tuesday, February 17th. Daiwa Securities Group lowered their price target on Palo Alto Networks from $212.00 to $175.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. The Goldman Sachs Group lowered their price target on Palo Alto Networks from $240.00 to $224.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Finally, Arete Research upgraded Palo Alto Networks from a “sell” rating to a “buy” rating and set a $185.00 price target for the company in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.95.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $160.42, for a total value of $802,100.00. Following the sale, the executive vice president directly owned 150,250 shares of the company’s stock, valued at approximately $24,103,105. This represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James J. Goetz sold 22,684 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the completion of the sale, the director directly owned 52,500 shares in the company, valued at approximately $8,631,525. The trade was a 30.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,784 shares of company stock valued at $4,709,116 in the last three months. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks Trading Up 2.3%

Shares of PANW stock opened at $173.78 on Thursday. The business’s fifty day simple moving average is $161.22 and its 200-day simple moving average is $185.23. The company has a market cap of $141.80 billion, a PE ratio of 96.01, a PEG ratio of 5.89 and a beta of 0.77. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.09. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the firm earned $0.81 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Palo Alto Networks Company 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.