Cache Advisors LLC Invests $4.29 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cache Advisors LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 23,597 shares of the network technology company's stock, valued at approximately $4,294,000. Palo Alto Networks comprises 1.6% of Cache Advisors LLC's portfolio, making the stock its 14th biggest position.

Several other institutional investors have also recently made changes to their positions in the company. Transce3nd LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $25,000. SJS Investment Consulting Inc. grew its position in shares of Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after buying an additional 69 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 buying an additional 55 shares during the last quarter. Valued Wealth Advisors LLC grew its position in shares of Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after buying an additional 101 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC grew its position in Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the transaction, the executive vice president now directly owns 3,543,516 shares of the company's stock, valued at $586,132,981.56. This represents a 2.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 293,010 shares in the company, valued at approximately $55,458,002.70. This represents a 29.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 568,962 shares of company stock valued at $96,933,690. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded down $3.22 during trading on Thursday, reaching $184.58. 2,103,819 shares of the stock were exchanged, compared to its average volume of 5,576,925. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The firm has a market cap of $123.08 billion, a price-to-earnings ratio of 104.26, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. The firm's 50-day moving average price is $178.27 and its 200 day moving average price is $185.22.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter in the previous year, the business earned $0.66 EPS. The company's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

PANW has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. JMP Securities boosted 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 report on Friday, February 14th. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a research note on Monday, May 19th. Rosenblatt Securities restated a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Finally, Northland Securities decreased their price objective on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and an average target price of $206.40.

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.