Northeast Investment Management Has $28.96 Million Position in Palo Alto Networks, Inc. $PANW

Northeast Investment Management boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 157,191 shares of the network technology company’s stock after purchasing an additional 16,964 shares during the quarter. Palo Alto Networks accounts for about 1.1% of Northeast Investment Management’s investment portfolio, making the stock its 28th biggest holding. Northeast Investment Management’s holdings in Palo Alto Networks were worth $28,955,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new position in Palo Alto Networks during the second quarter valued at approximately $25,000. Steph & Co. lifted its position in shares of Palo Alto Networks by 88.2% in the fourth quarter. Steph & Co. now owns 143 shares of the network technology company’s stock worth $26,000 after purchasing an additional 67 shares in the last quarter. Luken Investment Analytics LLC raised its position in Palo Alto Networks by 196.2% during the fourth quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company’s stock worth $28,000 after acquiring an additional 102 shares in the last quarter. Winch Advisory Services LLC raised its position in Palo Alto Networks by 96.1% during the third quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock worth $30,000 after acquiring an additional 73 shares in the last quarter. Finally, Caitlin John LLC bought a new stake in Palo Alto Networks during the third quarter worth $31,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $215.60 on Wednesday. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $223.61. The firm has a 50 day moving average price of $169.93 and a two-hundred day moving average price of $180.60. The firm has a market cap of $175.93 billion, a price-to-earnings ratio of 119.12, a PEG ratio of 7.70 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the business earned $0.81 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on PANW. Benchmark began coverage on shares of Palo Alto Networks in a research report on Wednesday, April 1st. They issued a “buy” rating and a $200.00 price objective on the stock. Citigroup restated a “buy” rating and issued a $210.00 price target (down from $235.00) on shares of Palo Alto Networks in a research note on Thursday, February 19th. Barclays reiterated an “overweight” rating and set a $220.00 price objective (up from $200.00) on shares of Palo Alto Networks in a research note on Monday. Guggenheim reiterated a “neutral” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Finally, Sanford C. Bernstein set a $209.00 target price on shares of Palo Alto Networks and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $212.09.

Insider Activity at Palo Alto Networks

In related news, Director John P. Key sold 1,572 shares of Palo Alto Networks stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total value of $272,459.04. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $3,466,400. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nikesh Arora purchased 68,085 shares of Palo Alto Networks stock in a transaction that occurred on Friday, March 27th. The stock was acquired at an average cost of $146.87 per share, with a total value of $9,999,643.95. Following the transaction, the chief executive officer owned 343,394 shares in the company, valued at $50,434,276.78. This trade represents a 24.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 30,356 shares of company stock worth $4,981,575. Corporate insiders own 1.40% of the company’s stock.

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.