Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Lifted by Faithward Advisors LLC

Faithward Advisors LLC lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 106.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,807 shares of the network technology company's stock after buying an additional 11,757 shares during the quarter. Faithward Advisors LLC's holdings in Palo Alto Networks were worth $4,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. APG Asset Management N.V. lifted its stake in Palo Alto Networks by 1,122.8% in the 4th quarter. APG Asset Management N.V. now owns 415,678 shares of the network technology company's stock valued at $73,044,000 after buying an additional 381,683 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Palo Alto Networks by 72.1% in the fourth quarter. Advisory Services Network LLC now owns 54,460 shares of the network technology company's stock worth $9,910,000 after acquiring an additional 22,824 shares during the last quarter. RiverGlades Family Offices LLC boosted its stake in shares of Palo Alto Networks by 36.4% during the fourth quarter. RiverGlades Family Offices LLC now owns 4,500 shares of the network technology company's stock valued at $819,000 after acquiring an additional 1,200 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in Palo Alto Networks during the 4th quarter worth about $761,000. Finally, Sand Hill Global Advisors LLC raised its stake in Palo Alto Networks by 96.8% in the 4th quarter. Sand Hill Global Advisors LLC now owns 42,709 shares of the network technology company's stock valued at $7,771,000 after purchasing an additional 21,007 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks 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 value of $126,854.00. Following the sale, the chief accounting officer now owns 47,976 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks 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 sale, the executive vice president now directly owns 358,197 shares in the company, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 939,318 shares of company stock valued at $165,384,602 over the last three months. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded up $0.07 during midday trading on Friday, hitting $168.34. The company's stock had a trading volume of 6,295,092 shares, compared to its average volume of 5,903,601. Palo Alto Networks, Inc. has a 1-year low of $135.18 and a 1-year high of $208.39. The firm's fifty day moving average price is $182.29 and its 200-day moving average price is $184.79. The firm has a market cap of $111.46 billion, a P/E ratio of 94.84, a P/E/G ratio of 5.64 and a beta of 1.07.

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. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the subject of a number of recent research reports. Westpark Capital reiterated a "hold" rating and set a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $190.00 target price (down from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Cantor Fitzgerald reissued an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday. Finally, Jefferies Financial Group lowered their price target on Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating for the company in a report on Monday, March 31st. Two 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 issued a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks currently has an average rating of "Moderate Buy" and a consensus price target of $204.52.

About Palo Alto Networks

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.