Archon Partners LLC Has $5.46 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Archon Partners LLC grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 100.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,030 shares of the network technology company's stock after purchasing an additional 15,015 shares during the quarter. Archon Partners LLC's holdings in Palo Alto Networks were worth $5,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock valued at $25,000 after buying an additional 69 shares in the last quarter. Rakuten Securities Inc. boosted its stake in Palo Alto Networks by 8.4% during the fourth 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 during the last quarter. Cedar Mountain Advisors LLC increased its holdings 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 buying an additional 71 shares during the last quarter. Finally, Abound Wealth Management lifted its stake in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 72 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Trading Up 4.6 %

Shares of NASDAQ:PANW traded up $7.72 during midday trading on Thursday, hitting $176.04. The stock had a trading volume of 4,016,386 shares, compared to its average volume of 5,826,151. The stock has a 50 day moving average price of $177.93 and a two-hundred day moving average price of $184.64. Palo Alto Networks, Inc. has a 1 year low of $140.81 and a 1 year high of $208.39. The company has a market capitalization of $116.56 billion, a PE ratio of 99.18, a P/E/G ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 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 during the quarter, compared to analysts' expectations of $2.24 billion. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on PANW. Scotiabank increased their target price on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a report on Tuesday, January 21st. Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Susquehanna upped their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a report on Tuesday, February 18th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. Finally, Evercore ISI reduced their price target on Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating for the company in a report on Tuesday, December 31st. Two 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $203.06.

Insider Activity

In other news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction dated 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 directly owns 47,976 shares in the company, 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 Palo Alto Networks stock in a transaction dated 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 in the company, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,039,318 shares of company stock valued at $181,925,602. 2.50% of the stock is currently owned by insiders.

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.