Capital Research Global Investors Has $1.53 Billion Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Capital Research Global Investors increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 83.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,427,062 shares of the network technology company's stock after buying an additional 3,841,359 shares during the quarter. Capital Research Global Investors owned about 1.28% of Palo Alto Networks worth $1,533,419,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Claret Asset Management Corp raised its position in Palo Alto Networks by 101.5% in the 4th quarter. Claret Asset Management Corp now owns 1,707 shares of the network technology company's stock valued at $311,000 after purchasing an additional 860 shares during the last quarter. Coastline Trust Co raised its holdings in shares of Palo Alto Networks by 105.7% in the fourth quarter. Coastline Trust Co now owns 78,389 shares of the network technology company's stock valued at $14,264,000 after buying an additional 40,278 shares during the last quarter. Curi RMB Capital LLC boosted its stake in shares of Palo Alto Networks by 91.8% during the fourth quarter. Curi RMB Capital LLC now owns 228,487 shares of the network technology company's stock worth $41,576,000 after buying an additional 109,360 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Palo Alto Networks by 93.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,160,308 shares of the network technology company's stock worth $211,150,000 after buying an additional 560,973 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in Palo Alto Networks by 85.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 7,524 shares of the network technology company's stock valued at $1,369,000 after acquiring an additional 3,473 shares during the period. Hedge funds and other institutional investors own 79.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Westpark Capital reiterated 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 objective on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a research report on Friday, February 14th. Jefferies Financial Group cut their price objective on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 target price on shares of Palo Alto Networks in a report on Monday, March 31st. Finally, Scotiabank boosted their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and a consensus target price of $203.06.

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares of the company's stock, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares in the company, valued at $65,353,042.65. This represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,039,318 shares of company stock valued at $181,925,602. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded down $2.07 on Friday, reaching $167.69. 4,768,742 shares of the company traded hands, compared to its average volume of 5,858,295. Palo Alto Networks, Inc. has a fifty-two week low of $137.60 and a fifty-two week high of $208.39. The stock has a market capitalization of $111.03 billion, a PE ratio of 94.47, a P/E/G ratio of 5.64 and a beta of 1.07. The company's 50 day moving average is $180.06 and its 200-day moving average is $184.98.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping 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, 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.