19,746 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Purchased by Runnymede Capital Advisors Inc.

Runnymede Capital Advisors Inc. bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, Holdings Channel.com reports. The firm bought 19,746 shares of the network technology company’s stock, valued at approximately $3,593,000. Palo Alto Networks comprises 3.1% of Runnymede Capital Advisors Inc.’s investment portfolio, making the stock its 9th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Dallas Securities Inc. grew its holdings in shares of 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 acquiring an additional 30 shares during the period. RB Capital Management LLC grew its holdings in shares of Palo Alto Networks by 1.5% during the 3rd quarter. RB Capital Management LLC now owns 2,492 shares of the network technology company’s stock worth $852,000 after acquiring an additional 36 shares during the period. Principal Street Partners LLC grew its holdings in shares of Palo Alto Networks by 1.7% during the 3rd quarter. Principal Street Partners LLC now owns 2,321 shares of the network technology company’s stock worth $792,000 after acquiring an additional 38 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Palo Alto Networks by 2.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,977 shares of the network technology company’s stock worth $676,000 after acquiring an additional 42 shares during the period. Finally, Zega Financial LLC grew its holdings in shares of Palo Alto Networks by 0.8% during the 3rd quarter. Zega Financial LLC now owns 5,997 shares of the network technology company’s stock worth $2,050,000 after acquiring an additional 48 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,000 shares of the 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 completion of the sale, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. The trade was a 31.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock worth $204,315,811 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $182.32 on Friday. The firm has a market capitalization of $120.71 billion, a price-to-earnings ratio of 102.72, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39. The business has a fifty day moving average price of $186.59 and a 200-day moving average price of $185.00.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping 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, equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of research analyst reports. UBS Group upped their target price on Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Evercore ISI dropped their price target on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. BTIG Research cut Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Loop Capital dropped their price target on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Finally, JMP Securities boosted their price target on Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $205.06.

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.