Cascade Financial Partners LLC Acquires 1,205 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Cascade Financial Partners LLC increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 96.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,458 shares of the network technology company’s stock after purchasing an additional 1,205 shares during the quarter. Cascade Financial Partners LLC’s holdings in Palo Alto Networks were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Natural Investments LLC bought a new stake in Palo Alto Networks during the 4th quarter valued at approximately $4,631,000. GC Wealth Management RIA LLC boosted its position in Palo Alto Networks by 121.9% during the 4th quarter. GC Wealth Management RIA LLC now owns 3,641 shares of the network technology company’s stock valued at $663,000 after acquiring an additional 2,000 shares in the last quarter. Gables Capital Management Inc. boosted its position in Palo Alto Networks by 100.0% during the 4th quarter. Gables Capital Management Inc. now owns 800 shares of the network technology company’s stock valued at $146,000 after acquiring an additional 400 shares in the last quarter. Founders Financial Alliance LLC boosted its position in Palo Alto Networks by 100.0% during the 4th quarter. Founders Financial Alliance LLC now owns 1,294 shares of the network technology company’s stock valued at $235,000 after acquiring an additional 647 shares in the last quarter. Finally, Wallace Hart LLC bought a new stake in Palo Alto Networks during the 4th quarter valued at approximately $411,000. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Stock Up 2.9 %

Shares of PANW opened at $178.93 on Wednesday. The company has a 50-day simple moving average of $185.78 and a 200-day simple moving average of $184.83. The company has a market capitalization of $118.47 billion, a PE ratio of 100.81, a P/E/G ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39.

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

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 176,242 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $195,596,176.16. This trade represents a 13.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 1,122,864 shares of company stock valued at $204,315,811 in the last ninety days. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Hsbc Global Res lowered shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Friday, November 22nd. StockNews.com lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Needham & Company LLC lifted their target price on shares of Palo Alto Networks from $192.50 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Truist Financial lifted their target price on shares of Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Palo Alto Networks from $208.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.06.

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.