Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Increased by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 85.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,915 shares of the network technology company's stock after acquiring an additional 4,117 shares during the period. Palo Alto Networks comprises approximately 1.4% of Schrum Private Wealth Management LLC's holdings, making the stock its 18th biggest position. Schrum Private Wealth Management LLC's holdings in Palo Alto Networks were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Tradewinds LLC. lifted its stake in Palo Alto Networks by 1.2% in the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company's stock valued at $791,000 after acquiring an additional 28 shares in the last quarter. Klingman & Associates LLC grew its position in Palo Alto Networks by 4.2% in the third quarter. Klingman & Associates LLC now owns 750 shares of the network technology company's stock valued at $256,000 after purchasing an additional 30 shares in the last quarter. Carr Financial Group Corp increased its stake in Palo Alto Networks by 4.4% in the 3rd quarter. Carr Financial Group Corp now owns 715 shares of the network technology company's stock valued at $244,000 after buying an additional 30 shares during the last quarter. First Dallas Securities Inc. lifted its position in Palo Alto Networks by 1.4% during the 3rd quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company's stock worth $728,000 after buying an additional 30 shares in the last quarter. Finally, Opinicus Capital Inc. boosted its stake in shares of Palo Alto Networks by 1.5% during the 3rd quarter. Opinicus Capital Inc. now owns 2,138 shares of the network technology company's stock worth $731,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Stock Down 0.1 %

Shares of PANW opened at $184.28 on Thursday. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The stock has a fifty day simple moving average of $186.34 and a two-hundred day simple moving average of $184.74. The company has a market capitalization of $122.01 billion, a PE ratio of 103.82, a price-to-earnings-growth ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data 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. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America increased their price target on shares of Palo Alto Networks from $200.00 to $215.00 and gave the company a "neutral" rating in a research note on Thursday, November 21st. Wells Fargo & Company raised their price target on shares of Palo Alto Networks from $208.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. JMP Securities raised 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 research note on Friday, February 14th. Loop Capital decreased their price target on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. Finally, Robert W. Baird upped their price objective on shares of Palo Alto Networks from $212.50 to $217.50 and gave the company an "outperform" rating in a report on Thursday, November 21st. Three investment 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 given a strong buy rating to the company. According to MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average price target of $205.06.

Insider Transactions at Palo Alto Networks

In other news, CEO Nikesh Arora sold 235,492 shares of Palo Alto Networks stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the sale, the chief executive officer now owns 1,086,404 shares of the company's stock, valued at $199,159,581.28. The trade was a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 in the company, valued at $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is currently owned by 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.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.