Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Curi RMB Capital LLC

Curi RMB Capital LLC increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 91.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,487 shares of the network technology company's stock after purchasing an additional 109,360 shares during the period. Palo Alto Networks accounts for about 1.0% of Curi RMB Capital LLC's portfolio, making the stock its 22nd largest position. Curi RMB Capital LLC's holdings in Palo Alto Networks were worth $41,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Palo Alto Networks by 104.4% during the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after acquiring an additional 31,281,359 shares during the period. Geode Capital Management LLC boosted its position in 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 buying an additional 6,725,148 shares during the last quarter. Jennison Associates LLC raised its position in Palo Alto Networks by 83.0% during the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock worth $1,048,033,000 after buying an additional 2,612,474 shares during the last quarter. Legal & General Group Plc lifted its stake in Palo Alto Networks by 59.3% during the 4th quarter. Legal & General Group Plc now owns 5,552,888 shares of the network technology company's stock valued at $1,010,403,000 after acquiring an additional 2,067,838 shares during the period. Finally, Norges Bank acquired a new stake in shares of Palo Alto Networks in the fourth quarter worth $970,736,000. Hedge funds and other institutional investors own 79.82% of the company's stock.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 47,976 shares of the company's stock, valued at $8,694,210.72. This represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction 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 completion of the sale, the executive vice president now directly owns 358,197 shares of the company's stock, 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 have sold 1,039,318 shares of company stock worth $181,925,602 over the last three months. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PANW has been the topic of several analyst reports. JMP Securities increased their price target on Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. StockNews.com cut Palo Alto Networks from a "buy" rating to a "hold" rating in a research report on Tuesday, December 24th. Scotiabank upped their price objective on Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, January 21st. Jefferies Financial Group cut their target price on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Citigroup increased their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Palo Alto Networks has an average rating of "Moderate Buy" and an average price target of $203.06.

Palo Alto Networks Trading Down 1.2 %

Shares of PANW traded down $2.07 during trading hours on Friday, reaching $167.69. The company had a trading volume of 4,768,742 shares, compared to its average volume of 5,858,295. The company has a market capitalization of $111.03 billion, a price-to-earnings ratio of 94.47, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 12-month low of $137.60 and a 12-month high of $208.39. The firm has a 50 day simple moving average of $180.06 and a 200-day simple moving average of $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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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. Sell-side analysts forecast 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.