Marco Investment Management LLC Buys 84 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Marco Investment Management LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,959 shares of the network technology company’s stock after purchasing an additional 84 shares during the quarter. Palo Alto Networks makes up about 1.6% of Marco Investment Management LLC’s portfolio, making the stock its 20th biggest holding. Marco Investment Management LLC’s holdings in Palo Alto Networks were worth $15,617,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Silver Oak Securities Incorporated grew its stake in Palo Alto Networks by 3,458.7% in the fourth quarter. Silver Oak Securities Incorporated now owns 5,338 shares of the network technology company’s stock valued at $1,574,000 after purchasing an additional 5,188 shares in the last quarter. Magnus Financial Group LLC grew its stake in Palo Alto Networks by 1.8% in the fourth quarter. Magnus Financial Group LLC now owns 9,869 shares of the network technology company’s stock valued at $2,910,000 after purchasing an additional 175 shares in the last quarter. Gitterman Wealth Management LLC bought a new position in Palo Alto Networks in the fourth quarter valued at approximately $398,000. Little House Capital LLC bought a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $769,000. Finally, Legacy Capital Wealth Partners LLC bought a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $219,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Up 0.9 %

Shares of Palo Alto Networks stock traded up $2.63 on Friday, hitting $291.42. 2,246,512 shares of the company traded hands, compared to its average volume of 3,487,617. The company has a market cap of $94.16 billion, a PE ratio of 45.53, a PEG ratio of 3.96 and a beta of 1.19. The stock’s 50 day moving average price is $287.61 and its 200-day moving average price is $292.58. Palo Alto Networks, Inc. has a 52 week low of $176.30 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) 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 analyst estimates of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PANW shares. Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 target price for the company. in a research note on Wednesday, February 21st. Citigroup lifted their target price on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Mizuho reduced their target price on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. JMP Securities reiterated a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Finally, Truist Financial boosted their price target on Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have assigned a 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 $314.82.

Insiders Place Their Bets

In related news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares in the company, valued at $56,327,194.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 167,917 shares of company stock worth $49,395,553. Company insiders own 3.30% of the company’s stock.

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.