Jefferson Bridge Capital LLC Acquires New Shares in Palo Alto Networks, Inc. $PANW

Jefferson Bridge Capital LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) in the 4th quarter, Holdings Channel reports. The firm purchased 10,350 shares of the network technology company’s stock, valued at approximately $1,906,000. Palo Alto Networks makes up approximately 1.9% of Jefferson Bridge Capital LLC’s portfolio, making the stock its 20th biggest holding.

Several other hedge funds also recently bought and sold shares of the stock. Klingman & Associates LLC boosted its holdings in shares of Palo Alto Networks by 2.2% during the third quarter. Klingman & Associates LLC now owns 2,131 shares of the network technology company’s stock worth $434,000 after purchasing an additional 46 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Palo Alto Networks by 1.8% during the third quarter. Contravisory Investment Management Inc. now owns 2,742 shares of the network technology company’s stock worth $558,000 after purchasing an additional 48 shares during the last quarter. Mattern Wealth Management LLC boosted its holdings in Palo Alto Networks by 2.9% in the third quarter. Mattern Wealth Management LLC now owns 1,692 shares of the network technology company’s stock valued at $345,000 after acquiring an additional 48 shares during the last quarter. PTM Wealth Management LLC boosted its holdings in Palo Alto Networks by 4.0% in the third quarter. PTM Wealth Management LLC now owns 1,300 shares of the network technology company’s stock valued at $276,000 after acquiring an additional 50 shares during the last quarter. Finally, Arlington Trust Co LLC boosted its holdings in Palo Alto Networks by 4.8% in the third quarter. Arlington Trust Co LLC now owns 1,088 shares of the network technology company’s stock valued at $222,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director James J. Goetz sold 22,684 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the transaction, the director owned 52,500 shares in the company, valued at $8,631,525. The trade was a 30.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 1,100 shares of Palo Alto Networks stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $161.40, for a total value of $177,540.00. Following the sale, the chief accounting officer directly owned 83,136 shares in the company, valued at approximately $13,418,150.40. The trade was a 1.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 149,552 shares of company stock valued at $27,779,427 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

PANW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Palo Alto Networks from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. Argus upgraded Palo Alto Networks to a “strong-buy” rating in a report on Friday, February 20th. Daiwa Securities Group reduced their target price on Palo Alto Networks from $212.00 to $175.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $209.95.

Get Our Latest Research Report on PANW

Palo Alto Networks Price Performance

Shares of PANW opened at $169.87 on Wednesday. The stock’s 50-day moving average is $161.41 and its two-hundred day moving average is $185.31. The stock has a market cap of $138.61 billion, a PE ratio of 93.85, a P/E/G ratio of 5.89 and a beta of 0.77. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $223.61.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

About Palo Alto Networks

(Free Report)

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.

Further Reading

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