Palo Alto Networks, Inc. $PANW Shares Acquired by MGO One Seven LLC

MGO One Seven LLC lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.5% during the third quarter, Holdings Channel reports. The firm owned 52,819 shares of the network technology company’s stock after purchasing an additional 2,758 shares during the quarter. MGO One Seven LLC’s holdings in Palo Alto Networks were worth $10,755,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PANW. Brighton Jones LLC raised its holdings in Palo Alto Networks by 147.7% during the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after buying an additional 4,031 shares during the period. Bison Wealth LLC raised its holdings in shares of Palo Alto Networks by 169.1% during the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock valued at $948,000 after acquiring an additional 3,275 shares during the period. Kera Capital Partners Inc. purchased a new stake in shares of Palo Alto Networks in the 2nd quarter valued at approximately $339,000. Harbor Investment Advisory LLC boosted its stake in Palo Alto Networks by 19.9% in the 2nd quarter. Harbor Investment Advisory LLC now owns 7,014 shares of the network technology company’s stock worth $1,435,000 after purchasing an additional 1,165 shares during the period. Finally, HBW Advisory Services LLC boosted its stake in Palo Alto Networks by 9.8% in the 2nd quarter. HBW Advisory Services LLC now owns 2,381 shares of the network technology company’s stock worth $487,000 after purchasing an additional 213 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $265.00 target price (up previously from $230.00) on shares of Palo Alto Networks in a report on Monday, January 5th. Morgan Stanley reissued an “overweight” rating and set a $245.00 price target (up from $228.00) on shares of Palo Alto Networks in a research report on Thursday, December 18th. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Thursday, November 20th. Mizuho set a $220.00 target price on Palo Alto Networks in a research note on Tuesday, December 16th. Finally, Royal Bank Of Canada upped their target price on Palo Alto Networks from $232.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. Thirty-one investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $227.99.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total transaction of $940,900.00. Following the completion of the sale, the executive vice president owned 155,119 shares of the company’s stock, valued at $29,190,293.42. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James J. Goetz sold 12,500 shares of Palo Alto Networks stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the completion of the transaction, the director directly owned 75,184 shares in the company, valued at approximately $14,685,690.72. This represents a 14.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 261,248 shares of company stock worth $53,316,149. Insiders own 1.40% of the company’s stock.

Palo Alto Networks Price Performance

PANW opened at $189.02 on Monday. The company has a market capitalization of $131.75 billion, a PE ratio of 119.63, a price-to-earnings-growth ratio of 4.51 and a beta of 0.76. Palo Alto Networks, Inc. has a fifty-two week low of $144.15 and a fifty-two week high of $223.61. The business has a 50-day moving average of $193.84 and a 200-day moving average of $196.05.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the business posted $1.56 EPS. Palo Alto Networks’s quarterly revenue was up 15.7% on a year-over-year basis. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Palo Alto Networks Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.