Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 70.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,882 shares of the network technology company's stock after acquiring an additional 5,330 shares during the quarter. Farther Finance Advisors LLC's holdings in Palo Alto Networks were worth $2,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in Palo Alto Networks by 50.1% during the 3rd quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company's stock valued at $1,075,718,000 after acquiring an additional 1,050,173 shares in the last quarter. Swiss National Bank increased its holdings in Palo Alto Networks by 0.5% during the 3rd quarter. Swiss National Bank now owns 961,000 shares of the network technology company's stock valued at $328,470,000 after acquiring an additional 4,400 shares in the last quarter. Dillon & Associates Inc. increased its holdings in Palo Alto Networks by 4.5% during the 3rd quarter. Dillon & Associates Inc. now owns 50,650 shares of the network technology company's stock valued at $17,322,000 after acquiring an additional 2,167 shares in the last quarter. Pinnacle Financial Partners Inc grew its holdings in shares of Palo Alto Networks by 3.4% during the third quarter. Pinnacle Financial Partners Inc now owns 38,539 shares of the network technology company's stock worth $13,173,000 after buying an additional 1,269 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC grew its holdings in shares of Palo Alto Networks by 16.7% during the third quarter. Prime Capital Investment Advisors LLC now owns 15,271 shares of the network technology company's stock worth $5,220,000 after buying an additional 2,189 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PANW. Rosenblatt Securities lifted their price target on shares of Palo Alto Networks from $212.50 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Evercore ISI lowered their price target on shares of Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating for the company in a report on Tuesday, December 31st. HSBC downgraded shares of Palo Alto Networks from a "hold" rating to a "reduce" rating and lowered their price target for the stock from $152.00 to $145.50 in a report on Friday, November 22nd. JMP Securities lifted their price target on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Finally, Scotiabank lifted their price target 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. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and a consensus price target of $205.06.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 176,242 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $180.04, for a total value of $31,730,609.68. Following the sale, the chief executive officer now directly owns 1,086,404 shares of the company's stock, valued at $195,596,176.16. This represents a 13.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lee Klarich sold 120,000 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the sale, the executive vice president now directly owns 365,856 shares in the company, valued at $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,122,864 shares of company stock valued at $204,315,811 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Down 1.8 %

Shares of NASDAQ PANW traded down $3.16 during trading on Thursday, reaching $176.32. 3,820,448 shares of the stock were exchanged, compared to its average volume of 5,880,386. The business's 50-day moving average price is $185.65 and its 200 day moving average price is $184.73. The company has a market capitalization of $116.74 billion, a price-to-earnings ratio of 99.34, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39.

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 (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

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.