Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by WealthTrust Axiom LLC

WealthTrust Axiom LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 100.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,680 shares of the network technology company's stock after purchasing an additional 2,340 shares during the period. WealthTrust Axiom LLC's holdings in Palo Alto Networks were worth $852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Howard Capital Management Group LLC boosted its stake in Palo Alto Networks by 1.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company's stock worth $36,316,000 after purchasing an additional 1,619 shares during the period. M&T Bank Corp grew its holdings in shares of Palo Alto Networks by 8.6% during the third quarter. M&T Bank Corp now owns 64,737 shares of the network technology company's stock valued at $22,127,000 after buying an additional 5,133 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in Palo Alto Networks by 10.7% during the third quarter. SOA Wealth Advisors LLC. now owns 2,606 shares of the network technology company's stock valued at $891,000 after buying an additional 252 shares during the period. World Investment Advisors LLC lifted its stake in Palo Alto Networks by 15.1% in the 3rd quarter. World Investment Advisors LLC now owns 8,528 shares of the network technology company's stock worth $2,915,000 after acquiring an additional 1,119 shares in the last quarter. Finally, Sfmg LLC grew its stake in Palo Alto Networks by 1.1% during the 3rd quarter. Sfmg LLC now owns 16,836 shares of the network technology company's stock valued at $5,754,000 after acquiring an additional 189 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

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Palo Alto Networks Stock Performance

Shares of PANW stock traded up $1.64 during mid-day trading on Monday, reaching $169.98. 5,098,383 shares of the company's stock traded hands, compared to its average volume of 5,901,559. The firm has a market capitalization of $112.54 billion, a PE ratio of 95.76, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 12 month low of $135.18 and a 12 month high of $208.39. The firm has a 50 day moving average price of $181.95 and a two-hundred day moving average price of $184.92.

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 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 business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on PANW shares. Jefferies Financial Group decreased their price target on shares of Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating for the company in a report on Monday, March 31st. JMP Securities boosted their price target on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Scotiabank increased their price objective on Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $190.00 target price (down previously from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Finally, Guggenheim downgraded Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target for the company. in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $204.52.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the sale, the executive vice president now directly owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. This trade represents a 2.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction 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 sale, the chief accounting officer now owns 47,976 shares of the company's stock, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,039,318 shares of company stock worth $181,925,602. Insiders own 2.50% of the company's stock.

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.