Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 197.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,604 shares of the network technology company’s stock after purchasing an additional 18,335 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Palo Alto Networks were worth $5,023,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PANW. SJS Investment Consulting Inc. grew its stake in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares in the last quarter. Valued Wealth Advisors LLC boosted its holdings in Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 101 shares during the period. Abound Wealth Management boosted 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 purchasing an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC increased 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 worth $27,000 after purchasing an additional 106 shares during the period. Finally, Capital Advisors Ltd. LLC raised 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 valued at $28,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $153.57 on Monday. Palo Alto Networks, Inc. has a 1 year low of $132.83 and a 1 year high of $208.39. The stock has a fifty day moving average price of $185.60 and a two-hundred day moving average price of $185.36. The stock has a market capitalization of $101.68 billion, a price-to-earnings ratio of 86.52, a PEG ratio of 5.64 and a beta of 1.07.

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

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the transaction, the executive vice president now owns 358,197 shares in the company, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction dated 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 directly owns 47,976 shares in the company, 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 have sold 818,544 shares of company stock valued at $147,132,028 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PANW has been the subject of a number of analyst reports. StockNews.com downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Citigroup boosted their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Truist Financial reduced their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Guggenheim cut shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Monday, January 6th. Finally, Morgan Stanley set a $230.00 target price on Palo Alto Networks in a report on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.