Crew Capital Management Ltd. Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Crew Capital Management Ltd. acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,673 shares of the network technology company’s stock, valued at approximately $1,083,000. Palo Alto Networks makes up 1.1% of Crew Capital Management Ltd.’s investment portfolio, making the stock its 19th biggest position.

Several other institutional investors have also added to or reduced their stakes in PANW. GSG Advisors LLC increased its stake in shares of Palo Alto Networks by 1.0% in the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock worth $1,478,000 after acquiring an additional 51 shares in the last quarter. Spirit of America Management Corp NY increased its stake in shares of Palo Alto Networks by 50.0% in the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock worth $88,000 after acquiring an additional 100 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in shares of Palo Alto Networks by 46.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock worth $1,232,000 after acquiring an additional 1,325 shares in the last quarter. Truist Financial Corp increased its stake in shares of Palo Alto Networks by 148.9% in the 3rd quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock worth $44,497,000 after acquiring an additional 113,534 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Palo Alto Networks by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock worth $32,143,000 after acquiring an additional 735 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PANW shares. KeyCorp cut their price objective on shares of Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Capital One Financial downgraded shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price objective on the stock. in a research report on Wednesday, February 21st. Evercore ISI increased their price objective on shares of Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. BMO Capital Markets cut their price objective on shares of Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Finally, Northland Securities downgraded shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price objective on the stock. in a research report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.82.

Insiders Place Their Bets

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The disclosure for this sale can be found here. Insiders sold 122,917 shares of company stock valued at $33,959,203 over the last three months. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Trading Up 0.7 %

Shares of PANW stock traded up $1.99 on Monday, reaching $293.41. The company’s stock had a trading volume of 2,984,417 shares, compared to its average volume of 5,393,581. The stock’s fifty day simple moving average is $287.61 and its 200-day simple moving average is $292.58. Palo Alto Networks, Inc. has a 1 year low of $176.30 and a 1 year high of $380.84. The company has a market capitalization of $94.80 billion, a price-to-earnings ratio of 45.97, a price-to-earnings-growth ratio of 3.96 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Equities research analysts forecast that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current 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.