Schrum Private Wealth Management LLC Increases Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Schrum Private Wealth Management LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 85.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,915 shares of the network technology company’s stock after buying an additional 4,117 shares during the quarter. Palo Alto Networks comprises about 1.4% of Schrum Private Wealth Management LLC’s investment portfolio, making the stock its 18th biggest position. Schrum Private Wealth Management LLC’s holdings in Palo Alto Networks were worth $1,622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its stake in shares of Palo Alto Networks by 97.2% during the fourth 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 in the last quarter. Valued Wealth Advisors LLC increased 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 worth $26,000 after purchasing an additional 101 shares during the last quarter. Abound Wealth Management raised its position in shares of Palo Alto Networks by 97.3% in the 4th 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 in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake 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 buying an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in shares of Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 0.1 %

Shares of PANW stock opened at $184.28 on Thursday. The stock has a 50-day moving average price of $186.34 and a 200 day moving average price of $184.74. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39. The firm has a market cap of $122.01 billion, a price-to-earnings ratio of 103.82, a PEG ratio of 5.64 and a beta of 1.14.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Truist Financial lifted their target price on Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a research report on Monday, November 18th. HSBC lowered Palo Alto Networks from a “hold” rating to a “reduce” rating and dropped their price target for the company from $152.00 to $145.50 in a research report on Friday, November 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $223.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. Finally, TD Cowen raised their target price on shares of Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. 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 one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.06.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the sale, the chief accounting officer now owns 47,976 shares in the company, valued at $8,694,210.72. The trade was a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nikesh Arora sold 235,492 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $199,159,581.28. The trade was a 17.81 % decrease in their position. 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 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Company 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.