Harbert Fund Advisors Inc. Makes New $1.48 Million Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Harbert Fund Advisors Inc. acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 8,125 shares of the network technology company's stock, valued at approximately $1,478,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. lifted its holdings in shares of Palo Alto Networks by 2.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,977 shares of the network technology company's stock worth $676,000 after acquiring an additional 42 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in 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 last quarter. Virtue Capital Management LLC boosted its position in Palo Alto Networks by 4.3% during the 3rd quarter. Virtue Capital Management LLC now owns 1,690 shares of the network technology company's stock valued at $578,000 after buying an additional 70 shares during the period. Rakuten Securities Inc. grew its stake in shares of Palo Alto Networks by 8.4% in the fourth quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company's stock worth $165,000 after purchasing an additional 70 shares during the last quarter. Finally, Cedar Mountain Advisors LLC increased its stake in shares of Palo Alto Networks by 70.3% during the fourth quarter. Cedar Mountain Advisors LLC now owns 172 shares of the network technology company's stock valued at $31,000 after buying an additional 71 shares during the period. Institutional investors own 79.82% of the company's stock.

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Palo Alto Networks Price Performance

Shares of NASDAQ PANW traded up $1.64 during midday trading on Monday, reaching $169.98. 5,066,578 shares of the stock traded hands, compared to its average volume of 5,901,453. The company's 50 day moving average is $182.29 and its 200 day moving average is $184.90. Palo Alto Networks, Inc. has a one year low of $135.18 and a one year high of $208.39. The stock 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.

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 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares in the company, valued at $65,353,042.65. The trade was a 21.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, the chief accounting officer now owns 47,976 shares of the company's stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 939,318 shares of company stock valued at $165,384,602. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group lifted their price target on Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a report on Thursday. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a report on Monday, March 31st. Scotiabank boosted their price target 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. Finally, Westpark Capital restated a "hold" rating and set a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Two 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. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of "Moderate Buy" and an average price target of $204.52.

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.