Arcadia Investment Management Corp MI Has $26.31 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Arcadia Investment Management Corp MI lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 102.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,587 shares of the network technology company’s stock after acquiring an additional 73,322 shares during the period. Palo Alto Networks makes up about 4.2% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 3rd largest holding. Arcadia Investment Management Corp MI’s holdings in Palo Alto Networks were worth $26,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in PANW. SJS Investment Consulting Inc. increased its position in shares of Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Palo Alto Networks by 113.9% in 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 grew its position in Palo Alto Networks by 246.3% in 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 grew its position in Palo Alto Networks by 97.3% in 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 grew its position in Palo Alto Networks by 265.0% in 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. Institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PANW. Wells Fargo & Company raised their target price on shares of Palo Alto Networks from $208.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Truist Financial raised their target price on shares of Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a research report on Monday, November 18th. BMO Capital Markets raised their target price on shares of Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Finally, Citigroup cut their price target on shares of Palo Alto Networks from $216.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $202.70.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $198.81 on Friday. 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 cap of $131.63 billion, a price-to-earnings ratio of 112.01, a P/E/G ratio of 5.82 and a beta of 1.14. The firm’s 50-day simple moving average is $187.23 and its 200 day simple moving average is $182.84.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results 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. 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 for the quarter, compared to analyst estimates of $2.24 billion. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 336,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at $705,730,831.62. This trade represents a 8.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the sale, the executive vice president now directly owns 365,856 shares in the company, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,458,864 shares of company stock valued at $269,397,331 in the last ninety days. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks 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.