Duncker Streett & Co. Inc. Purchases 293 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Duncker Streett & Co. Inc. raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 146.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 493 shares of the network technology company’s stock after acquiring an additional 293 shares during the period. Duncker Streett & Co. Inc.’s holdings in Palo Alto Networks were worth $145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Worth Asset Management LLC purchased a new stake in Palo Alto Networks during the 1st quarter worth about $26,000. First Pacific Financial lifted its holdings in Palo Alto Networks by 421.7% during the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in Palo Alto Networks during the 2nd quarter worth about $28,000. Fortis Capital Advisors LLC purchased a new stake in Palo Alto Networks during the 4th quarter worth about $28,000. Finally, Webster Bank N. A. lifted its holdings in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares in the company, valued at approximately $67,955,958.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The disclosure for this sale can be found here. Insiders sold a total of 167,917 shares of company stock worth $49,395,553 in the last quarter. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $277.33 on Thursday. The stock has a market cap of $89.61 billion, a P/E ratio of 43.33, a price-to-earnings-growth ratio of 3.75 and a beta of 1.19. The stock has a 50 day simple moving average of $299.16 and a two-hundred day simple moving average of $290.18. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. Sell-side analysts predict that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Truist Financial upped their target price on Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Loop Capital lowered Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Wednesday, February 21st. KeyCorp decreased their target price on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a research note on Thursday. Sanford C. Bernstein assumed coverage on Palo Alto Networks in a research note on Thursday, January 18th. They issued an “outperform” rating on the stock. Finally, Barclays decreased their target price on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.82.

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.