Monetary Management Group Inc. Increases Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Monetary Management Group Inc. increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 83.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,910 shares of the network technology company's stock after purchasing an additional 4,050 shares during the quarter. Monetary Management Group Inc.'s holdings in Palo Alto Networks were worth $1,621,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its holdings in Palo Alto Networks by 2.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,977 shares of the network technology company's stock valued at $676,000 after acquiring an additional 42 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after buying an additional 69 shares in the last quarter. Virtue Capital Management LLC boosted its stake in Palo Alto Networks by 4.3% during the third quarter. Virtue Capital Management LLC now owns 1,690 shares of the network technology company's stock worth $578,000 after buying an additional 70 shares during the last quarter. Rakuten Securities Inc. grew its holdings in Palo Alto Networks by 8.4% in the 4th quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company's stock valued at $165,000 after buying an additional 70 shares in the last quarter. Finally, Cedar Mountain Advisors LLC increased its stake in shares of Palo Alto Networks by 70.3% in the 4th quarter. Cedar Mountain Advisors LLC now owns 172 shares of the network technology company's stock worth $31,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PANW. Morgan Stanley set a $230.00 price objective on shares of Palo Alto Networks in a report on Tuesday, March 18th. Scotiabank increased their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a research note on Tuesday, January 21st. Barclays reduced their price target on shares of Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Royal Bank of Canada reiterated an "outperform" rating and issued a $225.00 price objective on shares of Palo Alto Networks in a research report on Monday, February 10th. Finally, Citigroup lifted their target price on Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.52.

Insider Transactions at Palo Alto Networks

In other news, 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 value of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares of the company's stock, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 939,318 shares of company stock worth $165,384,602. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Up 1.0 %

Shares of Palo Alto Networks stock traded up $1.64 on Monday, hitting $169.98. The stock had a trading volume of 5,094,857 shares, compared to its average volume of 5,901,528. The stock has a market cap of $112.54 billion, a price-to-earnings ratio of 95.76, a P/E/G ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 52-week low of $135.18 and a 52-week high of $208.39. The company's 50 day moving average price is $182.29 and its 200 day moving average price is $184.90.

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 for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. Analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.