First Trust Advisors LP Buys 2,208,130 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

First Trust Advisors LP grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 101.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,388,742 shares of the network technology company's stock after acquiring an additional 2,208,130 shares during the period. Palo Alto Networks comprises about 0.7% of First Trust Advisors LP's portfolio, making the stock its 13th largest holding. First Trust Advisors LP owned 0.67% of Palo Alto Networks worth $798,575,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. raised its position in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock valued at $25,000 after purchasing an additional 69 shares during the period. Valued Wealth Advisors LLC raised its holdings in Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after acquiring an additional 101 shares during the period. Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Abound Wealth Management grew its position in shares of Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 72 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC increased its stake in shares of Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 106 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 1.2 %

NASDAQ:PANW traded down $2.07 on Friday, reaching $167.69. 4,768,742 shares of the stock traded hands, compared to its average volume of 5,858,295. The firm has a market capitalization of $111.03 billion, a price-to-earnings ratio of 94.47, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 1-year low of $137.60 and a 1-year high of $208.39. 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 earnings per share 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 business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other news, CAO Josh D. Paul sold 700 shares of the company's stock in a transaction dated 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 approximately $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 accessible through this link. Also, EVP Lee Klarich sold 99,707 shares of the firm's stock in a transaction dated 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 owns 358,197 shares of the company's stock, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,039,318 shares of company stock worth $181,925,602 in the last 90 days. Corporate insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PANW. JMP Securities increased their price objective 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. Loop Capital cut their price objective on shares of Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. StockNews.com cut shares of Palo Alto Networks from a "buy" rating to a "hold" rating in a report on Tuesday, December 24th. Susquehanna lifted their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research report on Tuesday, February 18th. Finally, Citigroup increased 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. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks has an average rating of "Moderate Buy" and a consensus target price of $203.06.

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.