Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by TBH Global Asset Management LLC

TBH Global Asset Management LLC grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 93.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,597 shares of the network technology company’s stock after purchasing an additional 3,667 shares during the quarter. TBH Global Asset Management LLC’s holdings in Palo Alto Networks were worth $1,382,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Tradewinds LLC. boosted its holdings in Palo Alto Networks by 1.2% in the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after buying an additional 28 shares during the last quarter. Cromwell Holdings LLC lifted its position in shares of Palo Alto Networks by 3.0% in the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after acquiring an additional 30 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of Palo Alto Networks by 9.4% in the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after acquiring an additional 30 shares during the last quarter. Geneva Partners LLC increased its position in shares of Palo Alto Networks by 0.3% during the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after purchasing an additional 30 shares in the last quarter. Finally, Klingman & Associates LLC raised its stake in Palo Alto Networks by 4.2% in the 3rd quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock valued at $256,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Scotiabank upped their target price on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on shares of Palo Alto Networks from $193.50 to $224.50 and gave the company an “overweight” rating in a research note on Monday, November 18th. BTIG Research cut Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Barclays dropped their price target on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, Guggenheim downgraded Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research report on Monday, January 6th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $202.70.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 336,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $193.70, for a total value of $65,081,520.00. Following the completion of the sale, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at $705,730,831.62. The trade was a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the transaction, the executive vice president now directly owns 358,197 shares in the company, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,458,864 shares of company stock valued at $269,397,331 over the last three months. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Trading Down 1.5 %

Shares of PANW opened at $205.19 on Thursday. The firm has a market capitalization of $134.65 billion, a price-to-earnings ratio of 115.60, a PEG ratio of 5.70 and a beta of 1.14. The firm’s fifty day simple moving average is $187.11 and its 200-day simple moving average is $182.68. Palo Alto Networks, Inc. has a twelve month low of $130.04 and a twelve month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, analysts predict that Palo Alto Networks, Inc. will post 1.75 earnings per share for the current fiscal year.

Palo Alto Networks Company 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.