TCTC Holdings LLC Has $269,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

TCTC Holdings LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,476 shares of the network technology company’s stock after buying an additional 738 shares during the quarter. TCTC Holdings LLC’s holdings in Palo Alto Networks were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. increased its position in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 69 shares during the period. Valued Wealth Advisors LLC increased its position in Palo Alto Networks by 246.3% during the 4th 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 during the period. Abound Wealth Management increased its position in Palo Alto Networks by 97.3% during the 4th 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 during the period. Atlantic Edge Private Wealth Management LLC increased its position in Palo Alto Networks by 265.0% during the 4th 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 during the period. Finally, Capital Advisors Ltd. LLC increased its position in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

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 stock was sold at an average price of $180.04, for a total value of $31,730,609.68. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at $195,596,176.16. This trade represents a 13.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the transaction, the executive vice president now owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. This represents a 24.70 % 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 in the last quarter. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

Shares of PANW opened at $182.34 on Monday. The business has a 50-day moving average of $185.63 and a 200 day moving average of $184.93. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39. The firm has a market cap of $120.73 billion, a P/E ratio of 102.73, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price target on Palo Alto Networks from $208.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Barclays cut their price target on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Piper Sandler increased their price target on Palo Alto Networks from $165.00 to $192.50 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Evercore ISI cut their price target on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Finally, BMO Capital Markets increased their price target on Palo Alto Networks from $195.00 to $212.50 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Three 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 given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.06.

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.