Nemes Rush Group LLC Increases Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Nemes Rush Group LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 103.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,664 shares of the network technology company’s stock after buying an additional 1,352 shares during the quarter. Nemes Rush Group LLC’s holdings in Palo Alto Networks were worth $485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Dallas Securities Inc. boosted its holdings in Palo Alto Networks by 1.4% in the third quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock valued at $728,000 after purchasing an additional 30 shares during the period. RB Capital Management LLC boosted its stake in shares of Palo Alto Networks by 1.5% in the 3rd quarter. RB Capital Management LLC now owns 2,492 shares of the network technology company’s stock valued at $852,000 after buying an additional 36 shares during the period. Sunbelt Securities Inc. grew its position in shares of Palo Alto Networks by 2.2% during the third quarter. Sunbelt Securities Inc. now owns 1,977 shares of the network technology company’s stock worth $676,000 after buying an additional 42 shares in the last quarter. Zega Financial LLC increased its stake in shares of Palo Alto Networks by 0.8% during the third quarter. Zega Financial LLC now owns 5,997 shares of the network technology company’s stock worth $2,050,000 after buying an additional 48 shares during the period. Finally, Dorsey Wright & Associates raised its holdings in Palo Alto Networks by 0.6% in the third quarter. Dorsey Wright & Associates now owns 9,853 shares of the network technology company’s stock valued at $3,368,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 0.4 %

Shares of PANW opened at $171.31 on Wednesday. The firm’s 50-day moving average is $187.01 and its two-hundred day moving average is $185.46. The firm has a market capitalization of $113.42 billion, a P/E ratio of 96.51, a PEG ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39.

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

Wall Street Analyst Weigh In

Several research analysts have commented on PANW shares. Truist Financial lowered their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a report on Monday. Scotiabank increased their target price on Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Citigroup raised 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. KeyCorp increased their price objective on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a research report on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $204.27.

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 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 in the company, valued at $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 in the last 90 days. 2.50% of the stock is currently owned by insiders.

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.