Banco BTG Pactual S.A. Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Banco BTG Pactual S.A. bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,046 shares of the network technology company's stock, valued at approximately $370,000.

A number of other institutional investors and hedge funds have also modified their holdings of PANW. Howard Capital Management Group LLC grew 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 worth $36,316,000 after purchasing an additional 1,619 shares during the period. United Bank grew its holdings in shares of Palo Alto Networks by 1.3% in the third quarter. United Bank now owns 6,835 shares of the network technology company's stock worth $2,336,000 after acquiring an additional 90 shares during the period. Fisher Asset Management LLC increased its position in Palo Alto Networks by 35.4% during the third quarter. Fisher Asset Management LLC now owns 2,592 shares of the network technology company's stock valued at $886,000 after acquiring an additional 677 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in Palo Alto Networks by 22.9% in the third quarter. Dynamic Technology Lab Private Ltd now owns 2,582 shares of the network technology company's stock valued at $882,000 after acquiring an additional 481 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in Palo Alto Networks by 69.3% in the third quarter. Brown Brothers Harriman & Co. now owns 5,249 shares of the network technology company's stock worth $1,794,000 after purchasing an additional 2,149 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

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Wall Street Analyst Weigh In

PANW has been the subject of several research reports. Scotiabank upped their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $190.00 target price (down from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. Morgan Stanley set a $230.00 price target on shares of Palo Alto Networks in a research note on Tuesday, March 18th. Jefferies Financial Group raised their target price on Palo Alto Networks from $225.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, Westpark Capital reissued a "hold" rating and set a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $205.06.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 99,707 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the transaction, the executive vice president now owns 358,197 shares in the company, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. The trade was a 31.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,122,864 shares of company stock valued at $204,315,811. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

PANW stock traded down $1.68 during midday trading on Friday, reaching $172.76. 6,244,293 shares of the company traded hands, compared to its average volume of 5,908,199. The firm has a market capitalization of $114.38 billion, a price-to-earnings ratio of 97.33, a P/E/G ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The business has a 50 day moving average of $187.39 and a 200-day moving average of $185.39.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.