Nicollet Investment Management Inc. Acquires 15,793 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Nicollet Investment Management Inc. lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 99.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,752 shares of the network technology company's stock after acquiring an additional 15,793 shares during the period. Palo Alto Networks accounts for approximately 2.0% of Nicollet Investment Management Inc.'s holdings, making the stock its 16th biggest position. Nicollet Investment Management Inc.'s holdings in Palo Alto Networks were worth $5,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PANW. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Palo Alto Networks by 94.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company's stock worth $2,122,000 after purchasing an additional 5,658 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in Palo Alto Networks by 108.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock worth $3,886,000 after buying an additional 11,095 shares in the last quarter. National Pension Service grew its position in Palo Alto Networks by 82.1% in the fourth quarter. National Pension Service now owns 1,345,740 shares of the network technology company's stock worth $244,871,000 after buying an additional 606,778 shares during the last quarter. Mosley Wealth Management increased its holdings in shares of Palo Alto Networks by 116.2% in the fourth quarter. Mosley Wealth Management now owns 3,023 shares of the network technology company's stock valued at $561,000 after buying an additional 1,625 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Palo Alto Networks by 31.7% in the fourth quarter. Blue Trust Inc. now owns 3,883 shares of the network technology company's stock valued at $707,000 after buying an additional 934 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $126,854.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 1,122,864 shares of company stock valued at $204,315,811 over the last three months. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Up 0.4 %

NASDAQ PANW traded up $0.67 on Tuesday, hitting $171.31. 4,034,298 shares of the company were exchanged, compared to its average volume of 5,899,185. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39. The company has a market cap of $113.42 billion, a P/E ratio of 96.51, a P/E/G ratio of 5.64 and a beta of 1.04. The firm has a 50 day moving average of $187.01 and a two-hundred day moving average of $185.46.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released 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. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Scotiabank lifted their target price on Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $190.00 price target (down previously from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research note on Monday. Truist Financial decreased their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday. Finally, Susquehanna boosted their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.27.

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.