Callan Family Office LLC Acquires 23,471 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Callan Family Office LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1,883.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,717 shares of the network technology company’s stock after purchasing an additional 23,471 shares during the period. Callan Family Office LLC’s holdings in Palo Alto Networks were worth $4,498,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB grew its stake in Palo Alto Networks by 19.7% during the third quarter. Swedbank AB now owns 786,574 shares of the network technology company’s stock worth $268,851,000 after purchasing an additional 129,371 shares during the period. Howard Capital Management Group LLC raised its position in Palo Alto Networks by 1.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock valued at $36,316,000 after buying an additional 1,619 shares during the last quarter. Radnor Capital Management LLC bought a new position in Palo Alto Networks during the 3rd quarter valued at $497,000. M&G PLC lifted its stake in Palo Alto Networks by 37.2% during the 3rd quarter. M&G PLC now owns 9,497 shares of the network technology company’s stock valued at $3,248,000 after acquiring an additional 2,577 shares in the last quarter. Finally, Blake Schutter Theil Wealth Advisors LLC bought a new stake in shares of Palo Alto Networks in the 3rd quarter worth $805,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In related news, CEO Nikesh Arora sold 235,492 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $199,159,581.28. This trade represents a 17.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the transaction, the executive vice president now owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,122,864 shares of company stock worth $204,315,811 in the last ninety days. 2.50% of the stock is owned by insiders.

Palo Alto Networks Stock Down 2.7 %

PANW opened at $179.33 on Friday. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The company has a 50 day moving average of $186.16 and a two-hundred day moving average of $184.71. The company has a market cap of $118.73 billion, a P/E ratio of 101.03, a P/E/G ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate 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%. Research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Barclays decreased their target price on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Loop Capital reduced their price target on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on shares of Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, BMO Capital Markets increased their target price on shares of Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.06.

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.