Hurley Capital LLC Purchases Shares of 336 Palo Alto Networks, Inc. (NASDAQ:PANW)

Hurley Capital LLC acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 336 shares of the network technology company’s stock, valued at approximately $62,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SJS Investment Consulting Inc. lifted its holdings in shares of Palo Alto Networks by 97.2% in 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 position in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 101 shares in the last quarter. Abound Wealth Management lifted its holdings in Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its holdings in Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 106 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its position in Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 227,414 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the transaction, the chief executive officer now directly owns 317,571 shares in the company, valued at approximately $54,854,038.83. This represents a 41.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the sale, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,114,786 shares of company stock valued at $200,426,637 over the last 90 days. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

PANW opened at $153.57 on Friday. The business’s 50 day moving average price is $185.60 and its 200 day moving average price is $185.22. The stock has a market capitalization of $101.68 billion, a PE ratio of 86.52, a P/E/G ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a one year low of $132.83 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The business 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 research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PANW shares. KeyCorp lifted their target price on shares of Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Loop Capital cut their price objective on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Susquehanna increased their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a research note on Tuesday, February 18th. Citigroup lifted their price target on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a report on Monday, February 10th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.27.

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.