Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Garner Asset Management Corp

Garner Asset Management Corp grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 84.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,576 shares of the network technology company's stock after acquiring an additional 5,295 shares during the period. Garner Asset Management Corp's holdings in Palo Alto Networks were worth $2,106,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PANW. Reynders McVeigh Capital Management LLC boosted its holdings in shares of Palo Alto Networks by 116.2% during the 4th quarter. Reynders McVeigh Capital Management LLC now owns 1,524 shares of the network technology company's stock worth $277,000 after buying an additional 819 shares during the period. SageView Advisory Group LLC grew its position in shares of Palo Alto Networks by 110.4% in the fourth quarter. SageView Advisory Group LLC now owns 11,062 shares of the network technology company's stock valued at $2,013,000 after purchasing an additional 5,804 shares during the last quarter. Fiducient Advisors LLC lifted its position in shares of Palo Alto Networks by 103.2% during the 4th quarter. Fiducient Advisors LLC now owns 2,564 shares of the network technology company's stock worth $467,000 after purchasing an additional 1,302 shares during the last quarter. Keystone Financial Group boosted its position in shares of Palo Alto Networks by 669.1% in the fourth quarter. Keystone Financial Group now owns 7,814 shares of the network technology company's stock valued at $1,504,000 after acquiring an additional 6,798 shares during the period. Finally, Savvy Advisors Inc. raised its stake in Palo Alto Networks by 425.8% during the 4th quarter. Savvy Advisors Inc. now owns 9,938 shares of the network technology company's stock valued at $1,808,000 after purchasing an additional 8,048 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the sale, the chief accounting officer now directly owns 47,976 shares of the company's stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the transaction, the executive vice president now directly owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. This trade represents a 2.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,039,318 shares of company stock worth $181,925,602. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PANW. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $190.00 price target (down from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Evercore ISI reduced their target price on shares of Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating on the stock in a research note on Tuesday, December 31st. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a research report on Thursday, April 10th. Royal Bank of Canada reiterated an "outperform" rating and issued a $225.00 price objective on shares of Palo Alto Networks in a research report on Monday, February 10th. Finally, Stephens initiated coverage on shares of Palo Alto Networks in a report on Tuesday, April 1st. They set an "equal weight" rating and a $205.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $204.52.

Palo Alto Networks Stock Up 2.3 %

NASDAQ:PANW traded up $3.91 during mid-day trading on Tuesday, hitting $173.89. 217,835 shares of the company traded hands, compared to its average volume of 5,879,677. The stock's fifty day moving average price is $181.95 and its 200-day moving average price is $184.92. The firm has a market cap of $115.13 billion, a price-to-earnings ratio of 97.78, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a one year low of $135.18 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.24 billion. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.