Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Eagle Strategies LLC

Eagle Strategies LLC lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 107.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,748 shares of the network technology company's stock after acquiring an additional 2,454 shares during the period. Eagle Strategies LLC's holdings in Palo Alto Networks were worth $864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Uniting Wealth Partners LLC purchased a new position in shares of Palo Alto Networks during the fourth quarter worth $548,000. Rehmann Capital Advisory Group raised its stake in shares of Palo Alto Networks by 106.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock valued at $433,000 after buying an additional 1,226 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Palo Alto Networks by 94.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company's stock valued at $2,122,000 after buying an additional 5,658 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Palo Alto Networks by 108.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock valued at $3,886,000 after buying an additional 11,095 shares during the period. Finally, National Pension Service grew its holdings in Palo Alto Networks by 82.1% during the fourth quarter. National Pension Service now owns 1,345,740 shares of the network technology company's stock worth $244,871,000 after acquiring an additional 606,778 shares during the period. Hedge funds and other institutional investors own 79.82% of the company's stock.

Analyst Upgrades and Downgrades

PANW has been the topic of several recent research reports. Scotiabank upped their price objective on Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, January 21st. Citigroup increased their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. UBS Group lifted their price objective on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, February 14th. JMP Securities increased their target price on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a research note on Friday, February 14th. Finally, BTIG Research lowered Palo Alto Networks from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $203.06.

Insiders Place Their Bets

In other news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated 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 owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. This represents a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 99,707 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 transaction of $18,191,542.15. Following the completion of the transaction, the executive vice president now owns 358,197 shares of the company's stock, valued at $65,353,042.65. This trade represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,039,318 shares of company stock worth $181,925,602 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $1.43 during trading hours on Friday, hitting $187.70. The company's stock had a trading volume of 3,841,186 shares, compared to its average volume of 5,789,745. The stock has a market cap of $124.28 billion, a price-to-earnings ratio of 105.75, a P/E/G ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The firm has a fifty day moving average of $175.97 and a 200-day moving average of $184.70.

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