Frazier Financial Advisors LLC Takes $74,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Frazier Financial Advisors LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 253 shares of the network technology company’s stock, valued at approximately $74,000.

Other large investors have also bought and sold shares of the company. SageView Advisory Group LLC raised its stake in shares of Palo Alto Networks by 113.8% during the third quarter. SageView Advisory Group LLC now owns 2,643 shares of the network technology company’s stock valued at $620,000 after acquiring an additional 1,407 shares during the last quarter. Berger Financial Group Inc raised its position in Palo Alto Networks by 11.4% during the 3rd quarter. Berger Financial Group Inc now owns 1,116 shares of the network technology company’s stock valued at $262,000 after purchasing an additional 114 shares during the last quarter. MGO One Seven LLC grew its position in shares of Palo Alto Networks by 0.8% in the 3rd quarter. MGO One Seven LLC now owns 7,030 shares of the network technology company’s stock worth $1,648,000 after buying an additional 58 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Palo Alto Networks by 30.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 174,524 shares of the network technology company’s stock valued at $40,915,000 after buying an additional 41,103 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in shares of Palo Alto Networks by 6.1% during the third quarter. Corient Private Wealth LLC now owns 386,320 shares of the network technology company’s stock valued at $90,571,000 after acquiring an additional 22,373 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PANW. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a research report on Monday, January 29th. Truist Financial raised their target price 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. Barclays cut their price objective on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Mizuho dropped their price target on 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. Finally, Piper Sandler lowered Palo Alto Networks from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $350.00 to $300.00 in a research report on Wednesday, February 21st. Twelve analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $317.45.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total value of $10,376,640.00. Following the transaction, the executive vice president now directly owns 1,295,567 shares of the company’s stock, valued at $373,434,232.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The disclosure for this sale can be found here. Over the last three months, insiders have sold 280,193 shares of company stock valued at $80,670,132. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Performance

NASDAQ PANW traded up $4.22 during trading on Thursday, hitting $312.80. The stock had a trading volume of 1,746,399 shares, compared to its average volume of 5,144,998. Palo Alto Networks, Inc. has a one year low of $194.08 and a one year high of $380.84. The stock has a 50 day simple moving average of $289.10 and a 200 day simple moving average of $299.07. The stock has a market capitalization of $101.28 billion, a price-to-earnings ratio of 44.79, a P/E/G ratio of 5.03 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

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.