Burling Wealth Partners LLC Purchases Shares of 2,042 Palo Alto Networks, Inc. (NASDAQ:PANW)

Burling Wealth Partners LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,042 shares of the network technology company's stock, valued at approximately $372,000.

Several other hedge funds have also made changes to their positions in PANW. RiverPark Advisors LLC grew its holdings in shares of Palo Alto Networks by 18,105.3% during the fourth quarter. RiverPark Advisors LLC now owns 13,836 shares of the network technology company's stock worth $2,518,000 after buying an additional 13,760 shares during the last quarter. Evercore Wealth Management LLC grew its holdings in shares of Palo Alto Networks by 148.6% during the fourth quarter. Evercore Wealth Management LLC now owns 3,888 shares of the network technology company's stock worth $707,000 after buying an additional 2,324 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Palo Alto Networks by 100.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 547,900 shares of the network technology company's stock worth $99,696,000 after buying an additional 274,700 shares during the last quarter. Syon Capital LLC grew its holdings in shares of Palo Alto Networks by 137.7% during the fourth quarter. Syon Capital LLC now owns 1,683 shares of the network technology company's stock worth $306,000 after buying an additional 975 shares during the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of Palo Alto Networks by 155.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,883 shares of the network technology company's stock worth $347,000 after buying an additional 1,145 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PANW. UBS Group lifted their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Stephens assumed coverage on shares of Palo Alto Networks in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $205.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Morgan Stanley cut their price target on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target for the company in a report on Thursday, April 10th. Two equities 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, Palo Alto Networks has a consensus rating of "Moderate Buy" and a consensus price target of $203.06.

Palo Alto Networks Stock Up 1.8 %

PANW stock traded up $3.26 during trading on Tuesday, reaching $184.80. 2,185,042 shares of the company's stock were exchanged, compared to its average volume of 5,800,631. Palo Alto Networks, Inc. has a 1-year low of $142.00 and a 1-year high of $208.39. The company's fifty day moving average price is $176.39 and its 200-day moving average price is $184.69. The firm has a market cap of $122.35 billion, a PE ratio of 104.10, a P/E/G ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted 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 company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 99,707 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the transaction, the executive vice president now owns 358,197 shares of the company's stock, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. This trade represents a 2.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,039,318 shares of company stock worth $181,925,602. 2.50% of the stock is owned by company insiders.

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.