ZEGA Investments LLC Takes $2.28 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

ZEGA Investments LLC bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,168 shares of the network technology company’s stock, valued at approximately $2,284,000. Palo Alto Networks accounts for approximately 0.6% of ZEGA Investments LLC’s portfolio, making the stock its 28th largest holding.

Several other institutional investors also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Palo Alto Networks during the 3rd quarter worth about $29,000. True Wealth Design LLC raised its holdings in Palo Alto Networks by 2,933.3% in the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock worth $31,000 after purchasing an additional 88 shares during the period. Darwin Wealth Management LLC purchased a new position in Palo Alto Networks during the third quarter worth approximately $39,000. SJS Investment Consulting Inc. grew its holdings in Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 69 shares during the period. Finally, Valued Wealth Advisors LLC grew its holdings in Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 101 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PANW shares. Westpark Capital reaffirmed a “hold” rating and set a $196.40 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Morgan Stanley started coverage on shares of Palo Alto Networks in a research report on Tuesday. They set an “overweight” rating for the company. Susquehanna lifted their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a research report on Tuesday, February 18th. Evercore ISI reduced their price target on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a research report on Tuesday, December 31st. Finally, Rosenblatt Securities raised their price target on shares of Palo Alto Networks from $212.50 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.06.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the sale, the executive vice president now owns 365,856 shares of the company’s stock, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nikesh Arora sold 490,723 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Down 0.9 %

PANW stock opened at $182.32 on Friday. The business’s fifty day moving average price is $186.59 and its 200 day moving average price is $185.00. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The company has a market capitalization of $120.71 billion, a PE ratio of 102.72, a P/E/G ratio of 5.64 and a beta of 1.04.

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

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.