Mainstream Capital Management LLC Purchases 3,418 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Mainstream Capital Management LLC grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 101.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,801 shares of the network technology company’s stock after acquiring an additional 3,418 shares during the period. Mainstream Capital Management LLC’s holdings in Palo Alto Networks were worth $1,238,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Tradewinds LLC. grew its position in Palo Alto Networks by 1.2% during the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after acquiring an additional 28 shares during the last quarter. Geneva Partners LLC grew its position in Palo Alto Networks by 0.3% during the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after acquiring an additional 30 shares during the last quarter. Klingman & Associates LLC grew its position in Palo Alto Networks by 4.2% during the 3rd quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock worth $256,000 after acquiring an additional 30 shares during the last quarter. Carr Financial Group Corp grew its position in Palo Alto Networks by 4.4% during the 3rd quarter. Carr Financial Group Corp now owns 715 shares of the network technology company’s stock worth $244,000 after acquiring an additional 30 shares during the last quarter. Finally, First Dallas Securities Inc. grew its position in Palo Alto Networks by 1.4% during the 3rd quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock worth $728,000 after acquiring an additional 30 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the company’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 sale, the chief accounting officer now directly owns 47,976 shares in the company, valued at $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nikesh Arora sold 490,723 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $89,532,411.35. Following the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,122,864 shares of company stock worth $204,315,811. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Down 3.5 %

Shares of Palo Alto Networks stock opened at $183.68 on Tuesday. The stock’s 50-day simple moving average is $186.55 and its 200-day simple moving average is $184.63. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39. The company has a market capitalization of $121.61 billion, a price-to-earnings ratio of 103.48, a PEG ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

PANW has been the topic of several recent research reports. JMP Securities raised their price target on Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. OTR Global reiterated a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Truist Financial lifted their price objective on Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a research report on Monday, November 18th. Bank of America lifted their price objective on Palo Alto Networks from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Finally, BTIG Research cut Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $205.06.

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.