Oder Investment Management LLC Takes $232,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Oder Investment Management LLC purchased a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 788 shares of the network technology company’s stock, valued at approximately $232,000.

A number of other large investors have also recently modified their holdings of PANW. Vanguard Group Inc. increased its stake in Palo Alto Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock worth $6,215,410,000 after purchasing an additional 304,272 shares during the period. Northern Trust Corp increased its stake in Palo Alto Networks by 2.6% in the 3rd quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock worth $804,199,000 after purchasing an additional 86,995 shares during the period. Jennison Associates LLC increased its stake in Palo Alto Networks by 83.1% in the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after purchasing an additional 1,187,915 shares during the period. International Assets Investment Management LLC increased its stake in Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after purchasing an additional 2,050,917 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Palo Alto Networks by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,662,820 shares of the network technology company’s stock worth $389,832,000 after purchasing an additional 36,859 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 1.0 %

Palo Alto Networks stock traded down $2.83 during midday trading on Wednesday, reaching $288.06. 1,404,644 shares of the stock traded hands, compared to its average volume of 5,318,371. The stock’s fifty day moving average is $284.64 and its 200-day moving average is $293.04. Palo Alto Networks, Inc. has a 12 month low of $176.30 and a 12 month high of $380.84. The stock has a market cap of $93.07 billion, a P/E ratio of 44.65, a PEG ratio of 3.99 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. On average, equities analysts predict that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the sale, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the firm’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 value of $17,059,800.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $56,327,194.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the sale, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,917 shares of company stock valued at $33,959,203. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PANW. Piper Sandler cut Palo Alto Networks from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $350.00 to $300.00 in a research note on Wednesday, February 21st. Stifel Nicolaus reissued a “buy” rating and set a $330.00 target price on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Mizuho reduced their target price on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. BMO Capital Markets dropped their price target on Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $350.00 price target on shares of Palo Alto Networks in a research report on Wednesday, April 17th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $314.82.

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.