Stenger Family Office LLC Acquires New Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Stenger Family Office LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 14,914 shares of the network technology company's stock, valued at approximately $2,714,000. Palo Alto Networks comprises 0.9% of Stenger Family Office LLC's holdings, making the stock its 27th largest position.

Several other large investors have also recently bought and sold shares of PANW. Vanguard Group Inc. grew its position in shares of Palo Alto Networks by 104.4% during the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after purchasing an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after buying an additional 6,725,148 shares in the last quarter. Norges Bank bought a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $970,736,000. Jennison Associates LLC grew its position in Palo Alto Networks by 83.0% during the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock worth $1,048,033,000 after buying an additional 2,612,474 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in Palo Alto Networks by 86.9% during the 4th quarter. Clearbridge Investments LLC now owns 4,775,171 shares of the network technology company's stock worth $868,890,000 after acquiring an additional 2,220,130 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Trading Down 1.2 %

Shares of PANW traded down $2.07 on Friday, reaching $167.69. The company's stock had a trading volume of 4,768,742 shares, compared to its average volume of 5,880,201. The firm has a fifty day moving average of $180.61 and a 200-day moving average of $184.71. The stock has a market capitalization of $111.03 billion, a PE ratio of 94.47, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a twelve month low of $137.60 and a twelve month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its 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. 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 for the quarter, compared to analysts' expectations of $2.24 billion. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the transaction, the executive vice president now owns 3,543,516 shares in the company, valued at $586,132,981.56. This represents a 2.74 % decrease in their position. The sale was disclosed in a document filed 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 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 in the company, valued at $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,039,318 shares of company stock worth $181,925,602. 2.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PANW has been the topic of several analyst reports. Jefferies Financial Group reduced their target price on Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, March 31st. KeyCorp decreased their target price on shares of Palo Alto Networks from $240.00 to $205.00 and set an "overweight" rating on the stock in a report on Thursday. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a research report on Monday, March 31st. JMP Securities upped their target price on Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a research note on Friday, February 14th. Finally, Stephens began coverage on Palo Alto Networks in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $205.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $203.06.

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.