Bryce Point Capital LLC Invests $1.82 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bryce Point Capital LLC acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, Holdings Channel reports. The fund acquired 10,010 shares of the network technology company’s stock, valued at approximately $1,821,000. Palo Alto Networks makes up approximately 0.5% of Bryce Point Capital LLC’s investment portfolio, making the stock its 22nd biggest position.

A number of other hedge funds have also recently made changes to their positions in the stock. SJS Investment Consulting Inc. boosted its stake 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 acquiring an additional 69 shares in the last quarter. Valued Wealth Advisors LLC raised its stake 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 buying an additional 101 shares during the last quarter. Abound Wealth Management boosted its holdings in Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after acquiring an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its stake in shares of Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after acquiring an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 79 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were 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 approximately $8,694,210.72. This represents a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lee Klarich sold 120,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the sale, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. This trade represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Up 0.4 %

NASDAQ PANW opened at $171.31 on Wednesday. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39. The stock has a market cap of $113.42 billion, a price-to-earnings ratio of 96.51, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. The business has a fifty day moving average of $187.01 and a 200-day moving average of $185.46.

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

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Evercore ISI dropped their price objective on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Royal Bank of Canada restated an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a research note on Monday, February 10th. Jefferies Financial Group dropped their price target on Palo Alto Networks from $240.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday. Finally, StockNews.com cut Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.27.

Palo Alto Networks Company 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.