10,200 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by Hudson Canyon Capital Management

Hudson Canyon Capital Management acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,200 shares of the network technology company’s stock, valued at approximately $1,856,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. raised its position in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after buying an additional 69 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares in the last quarter. Valued Wealth Advisors LLC raised its position in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 101 shares in the last quarter. Abound Wealth Management raised its position in Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC raised its position in Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity

In related news, EVP Nir Zuk sold 336,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $193.70, for a total value of $65,081,520.00. Following the completion of the transaction, the executive vice president now directly owns 3,643,516 shares in the company, valued at $705,730,831.62. The trade was a 8.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the transaction, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,458,864 shares of company stock worth $269,397,331. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PANW shares. OTR Global restated a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $190.00 price target (down previously from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Evercore ISI lowered their price target on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. Piper Sandler raised their price target on Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Finally, Barclays lowered their price target on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $202.70.

Palo Alto Networks Stock Performance

PANW stock opened at $205.19 on Thursday. The firm has a 50 day moving average price of $187.11 and a 200-day moving average price of $182.68. Palo Alto Networks, Inc. has a 52-week low of $130.04 and a 52-week high of $208.39. The firm has a market capitalization of $134.65 billion, a price-to-earnings ratio of 115.60, a PEG ratio of 5.70 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.75 earnings per share for the current fiscal year.

Palo Alto Networks Company 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.