Rep. Nancy Pelosi Purchases Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Representative Nancy Pelosi (D-California) recently bought shares of Palo Alto Networks, Inc. (NASDAQ:PANW). In a filing disclosed on January 17th, the Representative disclosed that they had bought between $1,000,001 and $5,000,000 in Palo Alto Networks stock on December 20th.

Representative Nancy Pelosi also recently made the following trade(s):

• Sold $5,000,001 – $25,000,000 in shares of Apple (NASDAQ:AAPL) on 12/31/2024.
• Sold $1,000,001 – $5,000,000 in shares of NVIDIA (NASDAQ:NVDA) on 12/31/2024.
• Purchased $500,001 – $1,000,000 in shares of NVIDIA (NASDAQ:NVDA) on 12/20/2024.

Palo Alto Networks Trading Down 0.0 %

PANW stock opened at $177.11 on Tuesday. The stock has a market cap of $116.22 billion, a P/E ratio of 46.12, a P/E/G ratio of 4.94 and a beta of 1.14. The stock’s fifty day simple moving average is $189.62 and its two-hundred day simple moving average is $178.67. Palo Alto Networks, Inc. has a 1-year low of $130.04 and a 1-year high of $207.24.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Wednesday, November 20th. The network technology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. As a group, analysts forecast that Palo Alto Networks, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley upped their price objective on Palo Alto Networks from $195.00 to $210.50 and gave the company an “overweight” rating in a research note on Friday, October 11th. Susquehanna upped their price target on Palo Alto Networks from $210.00 to $217.50 and gave the company a “positive” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $190.00 price objective (down previously from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. HSBC downgraded shares of Palo Alto Networks from a “hold” rating to a “reduce” rating and dropped their price objective for the company from $152.00 to $145.50 in a report on Friday, November 22nd. Finally, TD Cowen lifted their target price on shares of Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $199.77.

Insider Activity at Palo Alto Networks

In other news, EVP Nir Zuk sold 336,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the sale, the executive vice president now directly owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This trade represents a 8.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 235,492 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $199,159,581.28. This represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 867,734 shares of company stock worth $161,546,523 in the last three months. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Palo Alto Networks

Several institutional investors and hedge funds have recently made changes to their positions in PANW. New Century Financial Group LLC boosted its holdings in Palo Alto Networks by 77.6% during the 4th quarter. New Century Financial Group LLC now owns 1,527 shares of the network technology company’s stock valued at $280,000 after acquiring an additional 667 shares during the period. Lifestyle Asset Management Inc. bought a new stake in Palo Alto Networks in the fourth quarter valued at approximately $1,003,000. Secure Asset Management LLC boosted its stake in shares of Palo Alto Networks by 237.9% during the fourth quarter. Secure Asset Management LLC now owns 12,245 shares of the network technology company’s stock valued at $2,228,000 after purchasing an additional 8,621 shares during the period. Galvin Gaustad & Stein LLC grew its holdings in shares of Palo Alto Networks by 97.9% in the fourth quarter. Galvin Gaustad & Stein LLC now owns 3,452 shares of the network technology company’s stock worth $628,000 after purchasing an additional 1,708 shares during the last quarter. Finally, Capital Planning Advisors LLC increased its stake in shares of Palo Alto Networks by 99.9% in the fourth quarter. Capital Planning Advisors LLC now owns 5,926 shares of the network technology company’s stock worth $1,078,000 after buying an additional 2,962 shares during the period. Institutional investors own 79.82% of the company’s stock.

About Representative Pelosi

Nancy Pelosi (Democratic Party) is a member of the U.S. House, representing California’s 11th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2025. Pelosi (Democratic Party) is running for re-election to the U.S. House to represent California’s 11th Congressional District. She declared candidacy for the primary scheduled on March 5, 2024. Pelosi is the first and only woman to serve as speaker of the House. Pelosi was first elected to the U.S. House in a special election in 1987 to represent California’s 5th Congressional District, which she represented until her election to California’s 8th Congressional District in 2012. In 2002, she was elected minority leader, becoming the highest-ranking congresswoman of either party in U.S. history. When Democrats took control of the House in 2007, Pelosi made history again with her election as speaker of the House. Pelosi was re-elected speaker of the House in 2019, following the 2018 midterm elections. She served in that role until January 3, 2023. Notable legislation passed during her speakership includes the Affordable Care Act, the American Recovery and Reinvestment Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Lilly Ledbetter Fair Pay Act, and the Don’t Ask, Don’t Tell Repeal Act. Pelosi is also a prominent Democratic fundraiser, raising more than $700 million for the Democratic Party since becoming a party leader in 2002. Before holding public office, Pelosi served on the Democratic National Committee and as a chair of the California Democratic Party. Nancy Pelosi was born in Baltimore, Maryland. Pelosi graduated from the Institute of Notre Dame in 1958. She earned a bachelor’s degree from Trinity College in 1962. Pelosi served as the chair of the California State Democratic Party and the finance chairwoman of the Democratic Senatorial Campaign Committee.

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.