AGP Franklin LLC Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

AGP Franklin LLC purchased a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,768 shares of the network technology company's stock, valued at approximately $2,323,000. Palo Alto Networks makes up approximately 1.4% of AGP Franklin LLC's portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Palo Alto Networks by 104.4% in the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after acquiring an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after purchasing an additional 6,725,148 shares in the last quarter. Jennison Associates LLC lifted its position in Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock worth $1,048,033,000 after purchasing an additional 2,612,474 shares during the period. Legal & General Group Plc boosted its stake in Palo Alto Networks by 59.3% during the fourth quarter. Legal & General Group Plc now owns 5,552,888 shares of the network technology company's stock worth $1,010,403,000 after buying an additional 2,067,838 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Palo Alto Networks in the 4th quarter valued at $970,736,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now owns 3,543,516 shares in the company, valued at $586,132,981.56. This represents a 2.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,039,318 shares of company stock valued at $181,925,602 in the last ninety days. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on PANW shares. Stephens assumed coverage on shares of Palo Alto Networks in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $205.00 target price on the stock. Westpark Capital restated a "hold" rating and issued a $196.40 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. JMP Securities lifted their price target on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Loop Capital lowered their target price on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating for the company in a research note on Tuesday, January 14th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $203.06.

Palo Alto Networks Stock Performance

Shares of PANW stock traded down $2.07 during midday trading on Friday, hitting $167.69. 4,768,742 shares of the company were exchanged, compared to its average volume of 5,880,201. The firm has a market capitalization of $111.03 billion, a P/E ratio of 94.47, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 52 week low of $137.60 and a 52 week high of $208.39. The firm's 50 day moving average price is $180.61 and its two-hundred day moving average price is $184.71.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. The company had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.