Cape Investment Advisory Inc. Has $75,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cape Investment Advisory Inc. lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 196.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 412 shares of the network technology company’s stock after purchasing an additional 273 shares during the quarter. Cape Investment Advisory Inc.’s holdings in Palo Alto Networks were worth $75,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Tradewinds LLC. increased its holdings in shares of Palo Alto Networks by 1.2% during the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after purchasing an additional 28 shares during the period. Geneva Partners LLC increased its holdings in shares of Palo Alto Networks by 0.3% during the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after purchasing an additional 30 shares during the period. Klingman & Associates LLC increased its holdings in shares of Palo Alto Networks by 4.2% during the third quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock worth $256,000 after purchasing an additional 30 shares during the period. Carr Financial Group Corp increased its holdings in shares of Palo Alto Networks by 4.4% during the third quarter. Carr Financial Group Corp now owns 715 shares of the network technology company’s stock worth $244,000 after purchasing an additional 30 shares during the period. Finally, First Dallas Securities Inc. increased its holdings in shares of Palo Alto Networks by 1.4% during the third quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock worth $728,000 after purchasing an additional 30 shares during the period. 79.82% of the stock is owned by institutional investors.

Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 235,492 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. This represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Klarich sold 120,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 365,856 shares in the company, valued at $65,744,323.20. This represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock worth $204,315,811 over the last quarter. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a report on Monday, February 10th. Hsbc Global Res cut shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 22nd. Piper Sandler lifted their price objective on shares of Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Bank of America lifted their price objective on shares of Palo Alto Networks from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Finally, UBS Group lifted their price objective on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Stock Up 1.6 %

PANW stock opened at $190.43 on Monday. The firm has a market cap of $126.08 billion, a price-to-earnings ratio of 107.29, a PEG ratio of 5.64 and a beta of 1.14. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The company’s fifty day simple moving average is $186.64 and its 200 day simple moving average is $184.54.

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. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.