Fidelis Capital Partners LLC Grows Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fidelis Capital Partners LLC grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 30.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,884 shares of the network technology company’s stock after purchasing an additional 2,298 shares during the period. Fidelis Capital Partners LLC’s holdings in Palo Alto Networks were worth $2,915,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PANW. Worth Asset Management LLC bought a new stake in Palo Alto Networks in the first quarter worth $26,000. First Pacific Financial raised its stake in shares of Palo Alto Networks by 421.7% during the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of Palo Alto Networks during the second quarter valued at about $28,000. Fortis Capital Advisors LLC bought a new position in shares of Palo Alto Networks during the fourth quarter valued at about $28,000. Finally, Webster Bank N. A. raised its stake in shares of Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $3.81 on Thursday, hitting $281.14. 3,853,848 shares of the company’s stock were exchanged, compared to its average volume of 5,596,438. The company has a 50-day simple moving average of $299.16 and a 200-day simple moving average of $290.18. The stock has a market capitalization of $90.84 billion, a PE ratio of 43.93, a PEG ratio of 3.75 and a beta of 1.19. Palo Alto Networks, Inc. has a 1 year low of $176.30 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. On average, analysts expect that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Mizuho reduced their price target on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Piper Sandler cut shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $350.00 to $300.00 in a research report on Wednesday, February 21st. Susquehanna reduced their price target on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a research report on Monday, February 26th. Redburn Atlantic boosted their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $330.00 price target on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Eleven analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.82.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction on Monday, January 29th. The shares were sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the transaction, the executive vice president now owns 198,105 shares in the company, valued at approximately $67,955,958.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the transaction, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction on Monday, January 29th. The shares were sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the completion of the sale, the executive vice president now owns 198,105 shares in the company, valued at $67,955,958.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,917 shares of company stock worth $49,395,553. 3.30% of the stock is owned by corporate insiders.

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.