Tidemark LLC Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Tidemark LLC boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 105.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 366 shares of the network technology company’s stock after buying an additional 188 shares during the period. Tidemark LLC’s holdings in Palo Alto Networks were worth $67,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. raised its holdings in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after buying an additional 69 shares during the period. Valued Wealth Advisors LLC raised its holdings in Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after buying an additional 101 shares during the period. Abound Wealth Management raised its holdings in Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after buying an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC raised its holdings in Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after buying an additional 106 shares during the period. Finally, Capital Advisors Ltd. LLC raised its holdings in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 79 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 3.4 %

Shares of NASDAQ:PANW opened at $182.34 on Friday. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The stock has a market cap of $120.73 billion, a price-to-earnings ratio of 102.73, a PEG ratio of 5.64 and a beta of 1.04. The business has a 50-day moving average price of $185.63 and a 200-day moving average price of $184.86.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 120,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the sale, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nikesh Arora sold 490,723 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock valued at $204,315,811 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PANW. BTIG Research downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Piper Sandler upped their price objective on Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a research report on Thursday, November 21st. JMP Securities upped their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Westpark Capital reaffirmed a “hold” rating and issued a $196.40 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Finally, Citigroup upped their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $205.06.

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.