Mindset Wealth Management LLC Increases Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mindset Wealth Management LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 146.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,110 shares of the network technology company’s stock after purchasing an additional 1,255 shares during the quarter. Mindset Wealth Management LLC’s holdings in Palo Alto Networks were worth $384,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Palo Alto Networks by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock valued at $2,609,486,000 after purchasing an additional 220,900 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Palo Alto Networks by 83.0% in the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after purchasing an additional 2,612,474 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Palo Alto Networks by 109.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,202,926 shares of the network technology company’s stock valued at $764,764,000 after acquiring an additional 2,197,765 shares during the period. Raymond James Financial Inc. purchased a new position in Palo Alto Networks during the 4th quarter valued at about $388,155,000. Finally, Swiss National Bank lifted its position in Palo Alto Networks by 91.4% during the 4th quarter. Swiss National Bank now owns 1,839,400 shares of the network technology company’s stock valued at $334,697,000 after acquiring an additional 878,400 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $184.01 on Friday. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39. The company has a market cap of $121.83 billion, a PE ratio of 103.67, a P/E/G ratio of 5.64 and a beta of 1.04. The business has a 50-day simple moving average of $186.41 and a 200-day simple moving average of $185.00.

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, topping analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion during 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, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 490,723 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. The trade was a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $126,854.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 1,122,864 shares of company stock worth $204,315,811 over the last 90 days. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Piper Sandler lifted their price target on shares of Palo Alto Networks from $165.00 to $192.50 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Bank of America lifted their price target on shares of Palo Alto Networks from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Robert W. Baird lifted their price target on shares of Palo Alto Networks from $212.50 to $217.50 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC lifted their price target on shares of Palo Alto Networks from $192.50 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $205.06.

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.