MGO One Seven LLC Purchases 26,598 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

MGO One Seven LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 115.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 49,569 shares of the network technology company’s stock after buying an additional 26,598 shares during the quarter. MGO One Seven LLC’s holdings in Palo Alto Networks were worth $9,020,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Palo Alto Networks by 104.4% during the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after acquiring an additional 31,281,359 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock valued at $2,611,013,000 after purchasing an additional 6,725,148 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Palo Alto Networks by 83.8% in the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock worth $1,533,419,000 after purchasing an additional 3,841,359 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Palo Alto Networks by 83.0% in the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after purchasing an additional 2,612,474 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Palo Alto Networks by 59.3% during the 4th quarter. Legal & General Group Plc now owns 5,552,888 shares of the network technology company’s stock valued at $1,010,403,000 after buying an additional 2,067,838 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the sale, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This represents a 2.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,039,318 shares of company stock valued at $181,925,602 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Up 2.2 %

Shares of Palo Alto Networks stock opened at $163.63 on Wednesday. The firm has a market cap of $108.34 billion, a price-to-earnings ratio of 92.19, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a twelve month low of $140.81 and a twelve month high of $208.39. The business has a 50-day moving average price of $178.56 and a 200-day moving average price of $184.75.

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

Analyst Ratings Changes

Several equities research analysts have commented on PANW shares. JMP Securities boosted their target price on Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Citigroup upped their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Truist Financial reduced their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Loop Capital dropped their target price on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Finally, Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $203.06.

Palo Alto Networks Profile

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.