Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Edge Capital Group LLC

Edge Capital Group LLC lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 102.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,018 shares of the network technology company’s stock after buying an additional 3,039 shares during the period. Edge Capital Group LLC’s holdings in Palo Alto Networks were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tradewinds LLC. lifted its holdings in Palo Alto Networks by 1.2% during 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. Rosenberg Matthew Hamilton lifted its stake in Palo Alto Networks by 9.4% during the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after purchasing an additional 30 shares during the last quarter. Geneva Partners LLC boosted its holdings in Palo Alto Networks by 0.3% in the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after purchasing an additional 30 shares in the last quarter. Klingman & Associates LLC boosted its holdings in Palo Alto Networks by 4.2% in the third 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 in the last quarter. Finally, Carr Financial Group Corp increased its stake in Palo Alto Networks by 4.4% in the third quarter. Carr Financial Group Corp now owns 715 shares of the network technology company’s stock valued at $244,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on 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 owns 358,197 shares in the company, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. 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 235,492 shares of the company’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 sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $199,159,581.28. This represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by insiders.

Palo Alto Networks Price Performance

PANW opened at $190.39 on Tuesday. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39. The stock has a market cap of $126.06 billion, a P/E ratio of 107.26, a P/E/G ratio of 5.64 and a beta of 1.14. The stock’s 50 day simple moving average is $186.85 and its 200 day simple moving average is $183.92.

Palo Alto Networks (NASDAQ:PANW) 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 business 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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several recent analyst reports. Westpark Capital restated a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. BTIG Research cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Susquehanna raised their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $223.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Finally, Hsbc Global Res cut Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 22nd. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $204.69.

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.