BluePointe Capital Management LLC Has $1.25 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

BluePointe Capital Management LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 96.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,842 shares of the network technology company's stock after purchasing an additional 3,356 shares during the quarter. BluePointe Capital Management LLC's holdings in Palo Alto Networks were worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PANW. Tradewinds LLC. raised its stake in Palo Alto Networks by 1.2% during the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company's stock worth $791,000 after purchasing an additional 28 shares during the period. First Dallas Securities Inc. raised its position in shares of Palo Alto Networks by 1.4% in the 3rd quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company's stock worth $728,000 after buying an additional 30 shares during the period. AMG National Trust Bank increased its stake in Palo Alto Networks by 2.9% during the third quarter. AMG National Trust Bank now owns 1,220 shares of the network technology company's stock worth $417,000 after acquiring an additional 34 shares during the last quarter. RB Capital Management LLC raised its holdings in shares of Palo Alto Networks by 1.5% in the 3rd quarter. RB Capital Management LLC now owns 2,492 shares of the network technology company's stock worth $852,000 after purchasing an additional 36 shares during the period. Finally, Principal Street Partners LLC lifted its stake in shares of Palo Alto Networks by 1.7% in the 3rd quarter. Principal Street Partners LLC now owns 2,321 shares of the network technology company's stock valued at $792,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

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Analyst Ratings Changes

PANW has been the subject of a number of research analyst reports. KeyCorp increased their target price on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. StockNews.com downgraded shares of Palo Alto Networks from a "buy" rating to a "hold" rating in a research note on Tuesday, December 24th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $225.00 price target on shares of Palo Alto Networks in a research report on Monday, February 10th. Morgan Stanley began coverage on Palo Alto Networks in a report on Tuesday, March 18th. They issued an "overweight" rating for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $223.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks has a consensus rating of "Moderate Buy" and an average target price of $205.06.

Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 490,723 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 700 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the sale, the chief accounting officer now owns 47,976 shares in the company, valued at $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock worth $204,315,811 over the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Up 1.4 %

NASDAQ PANW traded up $2.47 on Monday, hitting $184.79. The stock had a trading volume of 3,757,426 shares, compared to its average volume of 5,738,727. The company's 50-day moving average is $186.92 and its two-hundred day moving average is $185.23. The stock has a market cap of $122.35 billion, a price-to-earnings ratio of 104.11, a P/E/G ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.24 billion. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share 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.