Jump Financial LLC Has $4.93 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Jump Financial LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 501.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,077 shares of the network technology company's stock after buying an additional 22,574 shares during the period. Jump Financial LLC's holdings in Palo Alto Networks were worth $4,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after acquiring an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after buying an additional 6,725,148 shares in the last quarter. Norges Bank acquired a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $970,736,000. Jennison Associates LLC lifted its stake in shares of Palo Alto Networks by 83.0% during the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock valued at $1,048,033,000 after buying an additional 2,612,474 shares during the period. Finally, Clearbridge Investments LLC grew its stake in Palo Alto Networks by 86.9% in the 4th quarter. Clearbridge Investments LLC now owns 4,775,171 shares of the network technology company's stock worth $868,890,000 after acquiring an additional 2,220,130 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Down 4.4 %

PANW traded down $7.33 during trading hours on Monday, hitting $160.36. The company's stock had a trading volume of 1,066,262 shares, compared to its average volume of 5,839,688. The company has a 50-day simple moving average of $180.06 and a 200 day simple moving average of $184.98. The firm has a market capitalization of $106.18 billion, a PE ratio of 90.34, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a fifty-two week low of $137.60 and a fifty-two week 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 for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion for 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%. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the completion of the sale, the executive vice president now directly owns 358,197 shares of the company's stock, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,039,318 shares of company stock worth $181,925,602 over the last three months. Corporate insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PANW shares. Evercore ISI lowered their price objective on Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating for the company in a research report on Tuesday, December 31st. Citigroup increased their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. StockNews.com downgraded shares of Palo Alto Networks from a "buy" rating to a "hold" rating in a report on Tuesday, December 24th. Susquehanna increased their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a research note on Tuesday, February 18th. Finally, Stephens initiated coverage on Palo Alto Networks in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $205.00 target price on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $203.06.

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.