Somerset Group LLC Increases Stake in Palo Alto Networks, Inc.

Somerset Group LLC has significantly increased its investment in Palo Alto Networks, Inc. (NASDAQ:PANW) by 93.2% during the fourth quarter, as indicated by its latest filing with the Securities and Exchange Commission. Following the purchase of an additional 8,307 shares, Somerset now holds a total of 17,216 shares of the network technology firm. This investment accounts for 2.9% of Somerset Group LLC's overall portfolio, making Palo Alto Networks its 12th largest asset, valued at approximately $3,133,000.

Recent Changes in Holdings

In addition to Somerset Group LLC, several other institutional investors have also made significant changes to their stakes in Palo Alto Networks recently. For instance, SJS Investment Consulting Inc. has increased its holdings by 97.2% in the fourth quarter, now owning 140 shares worth $25,000 after adding 69 shares. Valued Wealth Advisors LLC has augmented its investment by an impressive 246.3%, now holding 142 shares valued at $26,000 after acquiring 101 shares. Abound Wealth Management also expanded its stake by 97.3%, bringing their total to 146 shares worth $27,000 after purchasing an additional 72 shares. Furthermore, Atlantic Edge Private Wealth Management LLC has grown its holdings by 265%, now possessing 146 shares valued at $27,000 after buying 106 additional shares. Lastly, Capital Advisors Ltd. LLC has increased its stake by 102.6%, now owning 156 shares worth $28,000 after acquiring an additional 79 shares. Overall, institutional investors control around 79.82% of Palo Alto Networks' stock.

Palo Alto Networks Stock Overview

On Friday, PANW stock opened at $182.32. The company's 50-day moving average is $186.59, while its 200-day moving average stands at $185.00. Palo Alto Networks boasts a market capitalization of $120.71 billion, a P/E ratio of 102.72, a PEG ratio of 5.64, and a beta of 1.04. The stock has experienced a twelve-month low of $132.50 and a twelve-month high of $208.39.

Palo Alto Networks last reported its quarterly earnings on February 13, revealing earnings of $0.81 per share, which exceeded analysts’ expectations of $0.75. The company recorded a net margin of 14.64% and a return on equity of 21.93%, with total revenue amounting to $2.26 billion, surpassing the anticipated $2.24 billion. Analysts predict that Palo Alto Networks will achieve earnings of 1.76 per share in the current fiscal year.

Analyst Opinions

Analyst opinions on Palo Alto Networks’ stock have varied recently. Loop Capital lowered their price target from $385.00 to $180.00 and assigned a "hold" rating. Rosenblatt Securities raised their target from $212.50 to $235.00 and maintained a "buy" rating. Conversely, BTIG Research downgraded the stock from a "buy" to a "neutral" rating. Cantor Fitzgerald reiterated an "overweight" rating with a price target of $223.00. Deutsche Bank also adjusted their rating to "hold," with a reduced price target of $190.00, down from $207.00. Overall, among analysts, three suggest selling, eleven recommend holding, and twenty-eight endorse buying, with one advocating for a strong buy. MarketBeat reports an average rating of "Moderate Buy" with a target price averaging $205.06.

Insider Trading Activities

Recent insider trading activity at Palo Alto Networks shows some executives selling shares. For instance, EVP Lee Klarich sold 99,707 shares at an average price of $182.45, amounting to $18,191,542.15. Following this sale, he retains 358,197 shares valued at about $65,353,042.65. Additionally, CEO Nikesh Arora sold 176,242 shares for $31,730,609.68 at an average price of $180.04, leaving him with 1,086,404 shares worth approximately $195,596,176.16. The total insider sales over the past ninety days reached 1,122,864 shares valued at about $204,315,811, comprising 2.5% of the company’s stock ownership.

Company Information

Palo Alto Networks, Inc. specializes in cybersecurity solutions globally. The firm offers various products, including firewall appliances and software, along with Panorama, its security management solution for controlling network security. Additionally, they provide subscription services focusing on threat prevention and security for various devices and platforms.

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