Boothbay Fund Management LLC Has $223,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Boothbay Fund Management LLC lessened its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 87.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,225 shares of the network technology company's stock after selling 8,829 shares during the quarter. Boothbay Fund Management LLC's holdings in Palo Alto Networks were worth $223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PANW. Transce3nd LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter valued at $25,000. SJS Investment Consulting Inc. boosted its stake in shares of Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after purchasing an additional 69 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after buying an additional 55 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake in shares of Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after buying an additional 101 shares during the period. Finally, Abound Wealth Management grew its stake in Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 72 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now owns 3,543,516 shares of the company's stock, valued at $586,132,981.56. The trade was a 2.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now directly owns 317,571 shares in the company, valued at approximately $54,854,038.83. This represents a 41.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 448,188 shares of company stock valued at $74,074,795. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PANW. KeyCorp cut their price objective on shares of Palo Alto Networks from $240.00 to $205.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Scotiabank boosted their price objective on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a research note on Tuesday, January 21st. Westpark Capital reaffirmed a "hold" rating and issued a $196.40 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Susquehanna boosted their price target on Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research report on Tuesday, February 18th. Finally, Citigroup raised their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $203.06.

Palo Alto Networks Stock Up 0.3 %

Shares of NASDAQ:PANW traded up $0.56 during trading on Tuesday, reaching $188.69. 3,013,038 shares of the company traded hands, compared to its average volume of 5,770,872. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The firm has a market cap of $124.93 billion, a P/E ratio of 106.30, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. The firm has a fifty day simple moving average of $175.94 and a 200 day simple moving average of $184.68.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping 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 firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current 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.