Rockefeller Capital Management L.P. Has $142.92 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Rockefeller Capital Management L.P. boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 98.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 785,396 shares of the network technology company's stock after purchasing an additional 388,947 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.12% of Palo Alto Networks worth $142,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PANW. Howard Capital Management Group LLC grew its position in shares of Palo Alto Networks by 1.5% during the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company's stock worth $36,316,000 after acquiring an additional 1,619 shares during the last quarter. Sunbelt Securities Inc. grew its position in Palo Alto Networks by 2.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,977 shares of the network technology company's stock worth $676,000 after purchasing an additional 42 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in Palo Alto Networks by 8.1% in the third quarter. Rehmann Capital Advisory Group now owns 1,152 shares of the network technology company's stock valued at $394,000 after purchasing an additional 86 shares during the period. M&T Bank Corp raised its holdings in shares of Palo Alto Networks by 8.6% in 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 during the last quarter. Finally, SOA Wealth Advisors LLC. boosted its stake in shares of 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 worth $891,000 after buying an additional 252 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

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Wall Street Analyst Weigh In

PANW has been the subject of several analyst reports. Morgan Stanley set a $230.00 price objective on Palo Alto Networks in a research note on Tuesday, March 18th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 target price on shares of Palo Alto Networks in a report on Monday, March 31st. Guggenheim lowered shares of Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Monday, January 6th. Susquehanna raised their price objective on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group cut their target price on Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Two equities 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $204.52.

Palo Alto Networks Price Performance

PANW traded up $1.64 during trading on Monday, reaching $169.98. The company had a trading volume of 5,098,383 shares, compared to its average volume of 5,901,559. The business's fifty day moving average price is $182.29 and its 200 day moving average price is $184.90. Palo Alto Networks, Inc. has a 12 month low of $135.18 and a 12 month high of $208.39. The company has a market cap of $112.54 billion, a P/E ratio of 95.76, a PEG ratio of 5.64 and a beta of 1.07.

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 net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Josh D. Paul sold 700 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the sale, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the sale, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,039,318 shares of company stock valued at $181,925,602 in the last three months. 2.50% of the stock is currently owned by corporate 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.