NEOS Investment Management LLC Acquires 45,672 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

NEOS Investment Management LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 147.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,692 shares of the network technology company's stock after acquiring an additional 45,672 shares during the period. NEOS Investment Management LLC's holdings in Palo Alto Networks were worth $13,955,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Howard Capital Management Group LLC increased its stake in Palo Alto Networks by 1.5% in the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company's stock valued at $36,316,000 after acquiring an additional 1,619 shares during the last quarter. United Bank increased its stake in shares of Palo Alto Networks by 1.3% in the 3rd quarter. United Bank now owns 6,835 shares of the network technology company's stock valued at $2,336,000 after purchasing an additional 90 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Palo Alto Networks by 35.4% during the 3rd quarter. Fisher Asset Management LLC now owns 2,592 shares of the network technology company's stock worth $886,000 after buying an additional 677 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Palo Alto Networks by 22.9% in the third quarter. Dynamic Technology Lab Private Ltd now owns 2,582 shares of the network technology company's stock worth $882,000 after acquiring an additional 481 shares during the last quarter. Finally, Baldwin Investment Management LLC increased its position in Palo Alto Networks by 1.0% during the 3rd quarter. Baldwin Investment Management LLC now owns 8,027 shares of the network technology company's stock worth $2,744,000 after purchasing an additional 83 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

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Palo Alto Networks Trading Down 1.0 %

Shares of NASDAQ:PANW traded down $1.68 during mid-day trading on Friday, reaching $172.76. The company had a trading volume of 6,244,293 shares, compared to its average volume of 5,908,199. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39. The company's 50-day moving average price is $187.39 and its 200-day moving average price is $185.39. The firm 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.

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 (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 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%. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. KeyCorp boosted their target price on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Citigroup upped their target price on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Guggenheim lowered Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Monday, January 6th. 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 note on Tuesday, December 31st. Finally, BTIG Research downgraded shares of Palo Alto Networks from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average price target of $205.06.

Insiders Place Their Bets

In other Palo Alto Networks news, 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 value of $31,730,609.68. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at $195,596,176.16. This trade represents a 13.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the sale, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock worth $204,315,811 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks 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.