Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 77.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,517 shares of the network technology company’s stock after purchasing an additional 35,913 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Palo Alto Networks were worth $15,015,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PANW. Tradewinds LLC. increased its stake in Palo Alto Networks by 1.2% during the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after purchasing an additional 28 shares during the period. First Dallas Securities Inc. increased its stake in Palo Alto Networks by 1.4% during the 3rd quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock worth $728,000 after buying an additional 30 shares during the period. AMG National Trust Bank lifted its holdings in Palo Alto Networks by 2.9% during the 3rd quarter. AMG National Trust Bank now owns 1,220 shares of the network technology company’s stock worth $417,000 after buying an additional 34 shares in the last quarter. RB Capital Management LLC boosted its position in Palo Alto Networks by 1.5% in the 3rd quarter. RB Capital Management LLC now owns 2,492 shares of the network technology company’s stock valued at $852,000 after buying an additional 36 shares during the period. Finally, Drive Wealth Management LLC grew its stake in shares of Palo Alto Networks by 4.3% in the third quarter. Drive Wealth Management LLC now owns 928 shares of the network technology company’s stock worth $317,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com cut Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Jefferies Financial Group lifted their price target on shares of Palo Alto Networks from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $190.00 price objective (down from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a research note on Monday, February 10th. Finally, Loop Capital cut their price target on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.06.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. This trade represents a 24.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 176,242 shares of Palo Alto Networks stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the completion of the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $195,596,176.16. This trade represents a 13.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $182.34 on Monday. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39. The business’s 50-day moving average is $185.63 and its two-hundred day moving average is $184.93. The firm has a market capitalization of $120.73 billion, a PE ratio of 102.73, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Equities analysts anticipate 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.