Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Position Increased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 81.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 25,523 shares of the network technology company's stock after purchasing an additional 11,475 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Palo Alto Networks were worth $4,644,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Rockbridge Investment Management LCC acquired a new position in Palo Alto Networks in the fourth quarter valued at $271,000. Delta Asset Management LLC TN boosted its holdings in Palo Alto Networks by 100.0% during the fourth quarter. Delta Asset Management LLC TN now owns 292 shares of the network technology company's stock worth $53,000 after buying an additional 146 shares in the last quarter. Howe & Rusling Inc. grew its position in Palo Alto Networks by 118.2% during the fourth quarter. Howe & Rusling Inc. now owns 7,944 shares of the network technology company's stock worth $1,445,000 after buying an additional 4,303 shares during the period. NEOS Investment Management LLC increased its holdings in Palo Alto Networks by 147.2% in the fourth quarter. NEOS Investment Management LLC now owns 76,692 shares of the network technology company's stock valued at $13,955,000 after buying an additional 45,672 shares in the last quarter. Finally, BIT Capital GmbH lifted its position in shares of Palo Alto Networks by 155.8% during the 4th quarter. BIT Capital GmbH now owns 862 shares of the network technology company's stock valued at $157,000 after acquiring an additional 525 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

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Palo Alto Networks Stock Down 1.0 %

Shares of PANW traded down $1.68 during midday trading on Friday, hitting $172.76. The company had a trading volume of 6,244,293 shares, compared to its average volume of 5,908,199. The stock has a market cap of $114.38 billion, a price-to-earnings ratio of 97.33, a PEG ratio of 5.64 and a beta of 1.04. The company's 50 day moving average price is $187.39 and its 200 day moving average price is $185.39. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PANW shares. Jefferies Financial Group raised their price objective on Palo Alto Networks from $225.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. BTIG Research downgraded shares of Palo Alto Networks from a "buy" rating to a "neutral" rating in a report on Wednesday, January 8th. Citigroup upped their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, Rosenblatt Securities raised their price objective on shares of Palo Alto Networks from $212.50 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $205.06.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the business'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 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 represents a 1.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 176,242 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the completion of the transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $195,596,176.16. This represents a 13.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,122,864 shares of company stock valued at $204,315,811. Corporate insiders own 2.50% of the company's stock.

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.