Boston Family Office LLC Buys 50,235 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Boston Family Office LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 96.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 102,546 shares of the network technology company's stock after purchasing an additional 50,235 shares during the period. Palo Alto Networks makes up approximately 1.3% of Boston Family Office LLC's holdings, making the stock its 27th largest position. Boston Family Office LLC's holdings in Palo Alto Networks were worth $18,659,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PANW. Geode Capital Management LLC increased its stake in Palo Alto Networks by 87.8% during 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 acquiring an additional 6,725,148 shares during the period. Nicollet Investment Management Inc. lifted its position in shares of Palo Alto Networks by 99.0% during the 4th quarter. Nicollet Investment Management Inc. now owns 31,752 shares of the network technology company's stock worth $5,778,000 after buying an additional 15,793 shares during the period. Nemes Rush Group LLC boosted its stake in Palo Alto Networks by 103.0% in the 4th quarter. Nemes Rush Group LLC now owns 2,664 shares of the network technology company's stock valued at $485,000 after buying an additional 1,352 shares in the last quarter. Tradewinds LLC. grew its position in Palo Alto Networks by 102.2% in the fourth quarter. Tradewinds LLC. now owns 4,680 shares of the network technology company's stock valued at $914,000 after acquiring an additional 2,365 shares during the period. Finally, HighPoint Advisor Group LLC raised its stake in Palo Alto Networks by 114.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 20,367 shares of the network technology company's stock worth $3,861,000 after acquiring an additional 10,870 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

PANW has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $190.00 target price (down previously from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. UBS Group upped their price target on Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Stephens began coverage on Palo Alto Networks in a research note on Tuesday. They issued an "equal weight" rating and a $205.00 target price for the company. Westpark Capital reissued a "hold" rating and set a $196.40 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Finally, Citigroup upped their price target on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average target price of $204.27.

Insider Buying and Selling

In other Palo Alto Networks news, 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 99,707 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the transaction, the executive vice president now directly owns 358,197 shares in the company, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,122,864 shares of company stock worth $204,315,811 over the last three months. 2.50% of the stock is owned by insiders.

Palo Alto Networks Trading Up 0.4 %

NASDAQ PANW traded up $0.67 on Tuesday, hitting $171.31. 4,034,298 shares of the company traded hands, compared to its average volume of 5,899,185. The business's 50 day moving average price is $187.01 and its 200-day moving average price is $185.46. The company has a market capitalization of $113.42 billion, a price-to-earnings ratio of 96.51, 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.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. As a group, sell-side analysts predict 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.