Wrapmanager Inc. Has $363,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Wrapmanager Inc. grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 92.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,997 shares of the network technology company’s stock after purchasing an additional 959 shares during the period. Wrapmanager Inc.’s holdings in Palo Alto Networks were worth $363,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after acquiring an additional 2,612,474 shares during the last quarter. Nordea Investment Management AB increased its position in Palo Alto Networks by 199.1% in the 4th quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock worth $333,925,000 after purchasing an additional 1,213,073 shares during the last quarter. Swedbank AB raised its stake in shares of Palo Alto Networks by 107.8% during the 4th quarter. Swedbank AB now owns 1,634,701 shares of the network technology company’s stock worth $297,450,000 after purchasing an additional 848,127 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Palo Alto Networks by 104.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,722 shares of the network technology company’s stock valued at $284,353,000 after buying an additional 796,964 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Palo Alto Networks by 100.6% in the 4th quarter. Fifth Third Bancorp now owns 1,374,653 shares of the network technology company’s stock valued at $250,132,000 after buying an additional 689,458 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $190.39 on Tuesday. The business has a 50 day simple moving average of $186.85 and a 200 day simple moving average of $183.92. The company has a market capitalization of $126.06 billion, a PE ratio of 107.26, a price-to-earnings-growth ratio of 5.64 and a beta of 1.14. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $89,532,411.35. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. The trade was a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lee Klarich sold 99,707 shares of the stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock worth $204,315,811 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PANW. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $190.00 target price (down from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Citigroup decreased their price objective on shares of Palo Alto Networks from $216.00 to $205.00 and set a “buy” rating for the company in a report on Friday, January 17th. BMO Capital Markets increased their target price on shares of Palo Alto Networks from $195.00 to $212.50 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. TD Cowen boosted their price target on Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Evercore ISI cut their price objective on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 31st. Three equities 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. Based on data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus 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.