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

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

Other large investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. lifted its position in 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. Transce3nd LLC bought a new stake in Palo Alto Networks in the 4th quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its position in 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. Strategic Investment Solutions Inc. IL lifted its position in 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. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after buying an additional 106 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Monday, May 5th. The stock was 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 of the company's stock, valued at approximately $55,458,002.70. This represents a 29.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 568,962 shares of company stock valued at $96,933,690. Insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of recent research reports. HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. dropped their target price on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Morgan Stanley lowered their price objective on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Citigroup boosted their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Finally, KeyCorp reiterated an "overweight" rating and issued a $220.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average target price of $206.40.

Palo Alto Networks Price Performance

PANW stock traded up $0.34 during midday trading on Wednesday, hitting $187.80. The stock had a trading volume of 3,835,262 shares, compared to its average volume of 5,604,689. The firm has a market cap of $125.23 billion, a price-to-earnings ratio of 105.80, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. The business has a 50-day moving average of $178.16 and a two-hundred day moving average of $185.20. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39.

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