Hudson Canyon Capital Management Buys Shares of 10,200 Palo Alto Networks, Inc. (NASDAQ:PANW)

Hudson Canyon Capital Management bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, HoldingsChannel.com reports. The firm bought 10,200 shares of the network technology company’s stock, valued at approximately $1,856,000.

A number of other hedge funds have also added to or reduced their stakes in PANW. SJS Investment Consulting Inc. grew its position in shares of 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 acquiring an additional 69 shares during the period. Capital Advisors Ltd. LLC grew its position in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 41 shares during the period. Valued Wealth Advisors LLC grew its position in shares of 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 acquiring an additional 101 shares during the period. Abound Wealth Management grew its position in shares of 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 acquiring an additional 72 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC grew its position in shares of 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 acquiring an additional 106 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PANW has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a research report on Monday, November 18th. Stifel Nicolaus boosted their price objective on shares of Palo Alto Networks from $192.50 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Robert W. Baird upped their target price on shares of Palo Alto Networks from $212.50 to $217.50 and gave the stock an “outperform” rating in a report on Thursday, November 21st. OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a report on Thursday, November 7th. Finally, Hsbc Global Res downgraded shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $202.70.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $205.19 on Thursday. The company has a market cap of $134.65 billion, a P/E ratio of 115.60, a PEG ratio of 5.70 and a beta of 1.14. Palo Alto Networks, Inc. has a 1 year low of $130.04 and a 1 year high of $208.39. The firm has a 50-day simple moving average of $187.11 and a two-hundred day simple moving average of $182.68.

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 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%. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 1.75 EPS for the current year.

Insider Activity

In other news, EVP Nir Zuk sold 336,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the completion of the sale, the executive vice president now owns 3,643,516 shares of the company’s stock, valued at approximately $705,730,831.62. The trade was a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 sale, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at $8,694,210.72. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,458,864 shares of company stock valued at $269,397,331. Corporate insiders own 2.50% of the company’s stock.

About Palo Alto Networks

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.