Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Cresset Asset Management LLC

Cresset Asset Management LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,188 shares of the network technology company's stock after purchasing an additional 5,649 shares during the period. Cresset Asset Management LLC's holdings in Palo Alto Networks were worth $9,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. CWA Asset Management Group LLC raised its stake in shares of Palo Alto Networks by 241.2% during the 4th quarter. CWA Asset Management Group LLC now owns 6,714 shares of the network technology company's stock worth $1,222,000 after buying an additional 4,746 shares during the period. Diversified Trust Co raised its stake in shares of Palo Alto Networks by 258.7% during the 4th quarter. Diversified Trust Co now owns 16,359 shares of the network technology company's stock worth $2,977,000 after buying an additional 11,798 shares during the period. Park National Corp OH raised its stake in shares of Palo Alto Networks by 79.6% during the 4th quarter. Park National Corp OH now owns 178,206 shares of the network technology company's stock worth $32,426,000 after buying an additional 78,994 shares during the period. Fulton Bank N.A. raised its stake in shares of Palo Alto Networks by 144.3% during the 4th quarter. Fulton Bank N.A. now owns 8,957 shares of the network technology company's stock worth $1,630,000 after buying an additional 5,290 shares during the period. Finally, First Hawaiian Bank raised its stake in shares of Palo Alto Networks by 115.6% during the 4th quarter. First Hawaiian Bank now owns 5,886 shares of the network technology company's stock worth $1,071,000 after buying an additional 3,156 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PANW shares. Morgan Stanley dropped their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. KeyCorp cut their target price on Palo Alto Networks from $240.00 to $205.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Jefferies Financial Group cut their target price on Palo Alto Networks from $240.00 to $215.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Susquehanna raised their target price on Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a research note on Tuesday, February 18th. Finally, Westpark Capital reaffirmed a "hold" rating and issued a $196.40 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $203.06.

Palo Alto Networks Trading Up 0.4%

Shares of PANW stock traded up $0.74 during trading hours on Tuesday, hitting $194.24. The company's stock had a trading volume of 2,015,143 shares, compared to its average volume of 5,714,923. The business has a fifty day moving average of $176.26 and a 200-day moving average of $184.85. The stock has a market cap of $128.61 billion, a price-to-earnings ratio of 109.43, a P/E/G ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $189.27, for a total value of $22,858,894.98. Following the transaction, the executive vice president now owns 293,010 shares of the company's stock, valued at approximately $55,458,002.70. This trade represents a 29.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of the firm'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 sale, the executive vice president now directly owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 568,962 shares of company stock valued at $96,933,690 over the last quarter. Company insiders own 2.50% of the company's stock.

Palo Alto Networks 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.