Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Sit Investment Associates Inc.

Sit Investment Associates Inc. increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 92.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,380 shares of the network technology company's stock after acquiring an additional 32,886 shares during the quarter. Sit Investment Associates Inc.'s holdings in Palo Alto Networks were worth $12,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of PANW. SJS Investment Consulting Inc. raised its position in shares of Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after purchasing an additional 69 shares during the last quarter. Valued Wealth Advisors LLC increased its stake in Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after purchasing an additional 101 shares in the last quarter. Abound Wealth Management raised its holdings in Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after buying an additional 72 shares during the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after buying an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after buying an additional 79 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 490,723 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. This represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The shares were 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 of the company's stock, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 818,544 shares of company stock valued at $147,132,028. 2.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of recent analyst reports. Stephens started coverage on shares of Palo Alto Networks in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $205.00 price objective for the company. StockNews.com cut shares of Palo Alto Networks from a "buy" rating to a "hold" rating in a research note on Tuesday, December 24th. UBS Group upped their price target on Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Guggenheim downgraded shares of Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 target price for the company. in a report on Monday, January 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $225.00 price target on shares of Palo Alto Networks in a report on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and an average price target of $204.27.

Palo Alto Networks Trading Up 2.3 %

Shares of PANW stock traded up $3.58 during trading hours on Wednesday, reaching $156.11. 2,207,093 shares of the company's stock were exchanged, compared to its average volume of 5,896,902. Palo Alto Networks, Inc. has a 1 year low of $134.83 and a 1 year high of $208.39. The stock has a market cap of $103.36 billion, a PE ratio of 88.04, a PEG ratio of 5.64 and a beta of 1.07. The stock's fifty day moving average price is $183.39 and its two-hundred day moving average price is $184.91.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results 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 company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.