Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 97.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,649 shares of the network technology company's stock after purchasing an additional 17,102 shares during the quarter. Palo Alto Networks comprises about 1.6% of Coastal Bridge Advisors LLC's holdings, making the stock its 17th largest position. Coastal Bridge Advisors LLC's holdings in Palo Alto Networks were worth $6,305,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew 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 valued at $25,000 after buying an additional 69 shares during the period. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its position 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 worth $26,000 after purchasing an additional 101 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its position in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Finally, Abound Wealth Management boosted its holdings in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 72 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.8 %

Shares of PANW traded down $1.60 during midday trading on Friday, reaching $186.93. 3,209,190 shares of the company were exchanged, compared to its average volume of 5,733,951. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The company has a market cap of $123.77 billion, a price-to-earnings ratio of 105.31, a P/E/G ratio of 5.64 and a beta of 1.02. The stock has a 50-day moving average price of $176.07 and a 200-day moving average price of $184.76.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results 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 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 analysts' expectations of $2.24 billion. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PANW. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a report on Thursday, April 10th. Loop Capital decreased their target price on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating on the stock in a report on Tuesday, January 14th. UBS Group raised their price objective on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Royal Bank of Canada reissued an "outperform" rating and set a $225.00 price target on shares of Palo Alto Networks in a research report on Monday, February 10th. Finally, Susquehanna upped their target price on Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $203.06.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares of the company's stock, valued at approximately $48,629,704.62. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the transaction, the chief executive officer now owns 317,571 shares of the company's stock, valued at $54,854,038.83. This represents a 41.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 568,962 shares of company stock valued at $96,933,690. Insiders own 2.50% of the company's stock.

About Palo Alto Networks

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.