Concurrent Investment Advisors LLC Acquires 13,335 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Concurrent Investment Advisors LLC grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 120.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,402 shares of the network technology company's stock after acquiring an additional 13,335 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Palo Alto Networks were worth $4,440,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Palo Alto Networks by 3.0% in the third quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company's stock worth $2,609,486,000 after acquiring an additional 220,900 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock worth $1,048,033,000 after acquiring an additional 2,612,474 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company's stock worth $1,113,948,000 after acquiring an additional 3,249,594 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Palo Alto Networks by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,005,161 shares of the network technology company's stock worth $685,364,000 after acquiring an additional 31,595 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Palo Alto Networks by 199.1% during the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company's stock worth $333,925,000 after buying an additional 1,213,073 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BMO Capital Markets increased their price objective on Palo Alto Networks from $195.00 to $212.50 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Barclays decreased their price objective on Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Wells Fargo & Company increased their price objective on Palo Alto Networks from $208.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. Guggenheim cut Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target for the company. in a research report on Monday, January 6th. Finally, Oppenheimer reissued an "outperform" rating and set a $225.00 price target on shares of Palo Alto Networks in a research report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average price target of $202.70.

Insider Activity

In related news, EVP Nir Zuk sold 336,000 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the sale, the executive vice president now owns 3,643,516 shares of the company's stock, valued at $705,730,831.62. This trade represents a 8.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the sale, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $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 quarter, insiders have sold 1,458,864 shares of company stock worth $269,397,331. Insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Down 3.9 %

Shares of PANW traded down $7.78 during midday trading on Friday, hitting $191.03. The company's stock had a trading volume of 5,451,305 shares, compared to its average volume of 6,377,549. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39. The company's fifty day simple moving average is $187.20 and its two-hundred day simple moving average is $182.95. The stock has a market capitalization of $126.48 billion, a price-to-earnings ratio of 107.62, a price-to-earnings-growth ratio of 5.82 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) 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 company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. On average, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.