Evolutionary Tree Capital Management LLC Buys 4,168 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Evolutionary Tree Capital Management LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 86.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,976 shares of the network technology company's stock after acquiring an additional 4,168 shares during the quarter. Palo Alto Networks makes up approximately 1.7% of Evolutionary Tree Capital Management LLC's investment portfolio, making the stock its 26th largest position. Evolutionary Tree Capital Management LLC's holdings in Palo Alto Networks were worth $1,633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PANW. SJS Investment Consulting Inc. boosted its position in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after buying an additional 69 shares during the period. Valued Wealth Advisors LLC grew its stake in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after purchasing an additional 101 shares during the period. Abound Wealth Management boosted its position in shares of Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after buying an additional 79 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

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Insider Activity

In related news, CAO Josh D. Paul sold 700 shares of the 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 in the company, valued at $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the sale, the executive vice president now owns 3,543,516 shares in the company, valued at $586,132,981.56. This represents a 2.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,039,318 shares of company stock valued at $181,925,602 over the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $1.64 during trading on Monday, hitting $169.98. The company's stock had a trading volume of 5,098,383 shares, compared to its average volume of 5,901,559. The company has a market capitalization of $112.54 billion, a PE ratio of 95.76, a P/E/G ratio of 5.64 and a beta of 1.07. The company has a fifty day simple moving average of $182.29 and a two-hundred day simple moving average of $184.90. Palo Alto Networks, Inc. has a 52 week low of $135.18 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating 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 business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. As a group, analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

PANW has been the topic of a number of recent analyst reports. Scotiabank lifted their price target on Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a report on Tuesday, January 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. BTIG Research lowered shares of Palo Alto Networks from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. Barclays reduced their target price on Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Finally, JMP Securities lifted their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Two investment 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.52.

Palo Alto Networks 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.