Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by TBH Global Asset Management LLC

TBH Global Asset Management LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 93.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,597 shares of the network technology company's stock after purchasing an additional 3,667 shares during the quarter. TBH Global Asset Management LLC's holdings in Palo Alto Networks were worth $1,382,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its stake in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock worth $26,000 after purchasing an additional 41 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Palo Alto Networks during the third quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL raised its position in Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company's stock valued at $29,000 after acquiring an additional 55 shares in the last quarter. True Wealth Design LLC raised its position in Palo Alto Networks by 2,933.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company's stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Palo Alto Networks during the third quarter valued at approximately $32,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. StockNews.com lowered Palo Alto Networks from a "buy" rating to a "hold" rating in a report on Tuesday, December 24th. KeyCorp raised their price objective on Palo Alto Networks from $217.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Stifel Nicolaus raised their price objective on Palo Alto Networks from $192.50 to $220.00 and gave the company a "buy" rating in a report on Thursday, November 14th. JMP Securities raised their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $190.00 price objective (down from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $202.70.

Palo Alto Networks Stock Down 4.2 %

NASDAQ PANW traded down $8.42 during trading hours on Friday, hitting $190.39. 3,641,747 shares of the company were exchanged, compared to its average volume of 6,316,542. The company has a 50 day moving average of $187.20 and a two-hundred day moving average of $182.95. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The firm has a market cap of $126.06 billion, a price-to-earnings ratio of 107.41, a PEG 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 for the quarter, topping 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 the consensus estimate of $2.24 billion. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity

In other news, EVP Nir Zuk sold 336,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the transaction, the executive vice president now owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This represents a 8.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 490,723 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. This represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,458,864 shares of company stock worth $269,397,331. 2.50% of the stock is currently owned by insiders.

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.