Oliver Lagore Vanvalin Investment Group Buys 1,325 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 46.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,178 shares of the network technology company’s stock after purchasing an additional 1,325 shares during the quarter. Oliver Lagore Vanvalin Investment Group’s holdings in Palo Alto Networks were worth $1,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PANW. Norges Bank bought a new stake in shares of Palo Alto Networks during the 4th quarter valued at $751,276,000. International Assets Investment Management LLC grew its position in Palo Alto Networks by 29,086.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after buying an additional 2,050,917 shares in the last quarter. Moneta Group Investment Advisors LLC purchased a new position in Palo Alto Networks during the fourth quarter worth about $204,728,000. T. Rowe Price Investment Management Inc. purchased a new position in Palo Alto Networks during the fourth quarter worth about $85,025,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Palo Alto Networks by 6,453.6% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock worth $102,670,000 after buying an additional 431,228 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PANW has been the subject of several recent analyst reports. Piper Sandler cut Palo Alto Networks from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $350.00 to $300.00 in a research report on Wednesday, February 21st. Mizuho cut their price objective on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Oppenheimer raised their target price on Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Wednesday. KeyCorp lowered their target price on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Northland Securities cut Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 target price for the company. in a research note on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $314.82.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the transaction, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The disclosure for this sale can be found here. Over the last quarter, insiders sold 167,917 shares of company stock worth $49,395,553. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW stock traded up $3.25 during trading on Thursday, hitting $280.58. 2,106,455 shares of the stock traded hands, compared to its average volume of 5,572,102. The firm has a market capitalization of $90.66 billion, a P/E ratio of 44.04, a price-to-earnings-growth ratio of 3.75 and a beta of 1.19. The firm’s fifty day moving average price is $299.16 and its 200-day moving average price is $290.18. Palo Alto Networks, Inc. has a 52-week low of $176.30 and a 52-week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.

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.