Trexquant Investment LP grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,622 shares of the network technology company's stock after purchasing an additional 2,167 shares during the period. Trexquant Investment LP's holdings in Palo Alto Networks were worth $15,762,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. grew its position in Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock valued at $25,000 after acquiring an additional 69 shares during the period. Valued Wealth Advisors LLC grew its holdings in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after acquiring an additional 101 shares during the period. Abound Wealth Management raised its holdings in Palo Alto Networks by 97.3% during the 4th 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 period. Atlantic Edge Private Wealth Management LLC boosted its position in Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 106 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Palo Alto Networks by 102.6% during the 4th 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 currently owned by hedge funds and other institutional investors.
Palo Alto Networks Price Performance
NASDAQ PANW traded up $1.87 during trading on Wednesday, reaching $173.18. 3,338,552 shares of the company's stock traded hands, compared to its average volume of 5,881,771. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The company's 50 day simple moving average is $186.72 and its two-hundred day simple moving average is $185.38. The firm has a market cap of $114.66 billion, a price-to-earnings ratio of 97.57, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.24 billion. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.
Insider Buying and Selling at Palo Alto Networks
In other news, EVP Lee Klarich sold 120,000 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 235,492 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $183.32, for a total value of $43,170,393.44. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 in the last 90 days. Company insiders own 2.50% of the company's stock.
Analyst Ratings Changes
PANW has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Guggenheim downgraded Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Monday, January 6th. Morgan Stanley set a $230.00 target price on Palo Alto Networks in a research report on Tuesday, March 18th. KeyCorp upped their price objective on Palo Alto Networks from $217.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $190.00 price target (down from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.27.
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About Palo Alto Networks
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Free Report)
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.
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