ZEGA Investments LLC Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

ZEGA Investments LLC bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,168 shares of the network technology company's stock, valued at approximately $2,284,000. Palo Alto Networks makes up about 0.6% of ZEGA Investments LLC's investment portfolio, making the stock its 28th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SJS Investment Consulting Inc. increased its holdings in 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 valued at $25,000 after buying an additional 69 shares during the period. Valued Wealth Advisors LLC boosted its position in shares of 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 worth $26,000 after acquiring an additional 101 shares in the last quarter. Abound Wealth Management increased its stake 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 valued at $27,000 after acquiring an additional 72 shares during the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

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Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 700 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the sale, the chief accounting officer now owns 47,976 shares in the company, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the transaction, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. The trade was a 24.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,122,864 shares of company stock valued at $204,315,811. Company insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PANW shares. Evercore ISI lowered their price target on Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating for the company in a report on Tuesday, December 31st. Barclays reduced their price target on shares of Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated an "outperform" rating and set a $225.00 price objective on shares of Palo Alto Networks in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $190.00 target price (down previously from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Finally, UBS Group upped their price target on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Three research 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 issued a strong buy rating to the company. According to MarketBeat, Palo Alto Networks has a consensus rating of "Moderate Buy" and a consensus target price of $205.06.

Palo Alto Networks Stock Down 2.6 %

NASDAQ PANW traded down $4.99 on Wednesday, reaching $184.96. The company had a trading volume of 3,408,858 shares, compared to its average volume of 5,725,905. The stock has a market capitalization of $122.46 billion, a P/E ratio of 104.20, a P/E/G ratio of 5.64 and a beta of 1.04. The company's fifty day moving average is $187.31 and its 200 day moving average is $185.38. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week 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. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

About Palo Alto Networks

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.