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Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Cerity Partners LLC

Palo Alto Networks logo with Computer and Technology background

Cerity Partners LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 854,579 shares of the network technology company's stock after acquiring an additional 35,181 shares during the period. Cerity Partners LLC owned approximately 0.13% of Palo Alto Networks worth $145,825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PANW. Vanguard Group Inc. grew its holdings in Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after acquiring an additional 31,281,359 shares during the period. Geode Capital Management LLC boosted its position in Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after purchasing an additional 6,725,148 shares in the last quarter. Norges Bank purchased a new stake in Palo Alto Networks during the fourth quarter worth $970,736,000. Northern Trust Corp boosted its position in Palo Alto Networks by 133.7% during the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock worth $1,427,048,000 after purchasing an additional 4,486,654 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after purchasing an additional 3,841,359 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the sale, the executive vice president owned 3,243,516 shares in the company, valued at $644,356,888.56. This trade represents a 2.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $200.86, for a total value of $24,258,665.64. Following the sale, the executive vice president owned 235,482 shares of the company's stock, valued at approximately $47,298,914.52. This trade represents a 33.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 569,248 shares of company stock valued at $111,279,829. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Shares of PANW stock traded up $3.33 during trading hours on Monday, reaching $190.72. The company had a trading volume of 5,043,566 shares, compared to its average volume of 5,473,669. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The company has a market capitalization of $127.17 billion, a P/E ratio of 108.98, a price-to-earnings-growth ratio of 5.23 and a beta of 0.97. The stock's fifty day simple moving average is $195.04 and its 200 day simple moving average is $185.73.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on PANW shares. Wells Fargo & Company boosted their target price on Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased their target price on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Cantor Fitzgerald reiterated an "overweight" rating and set a $223.00 target price on shares of Palo Alto Networks in a research report on Monday, May 19th. Finally, Sanford C. Bernstein set a $225.00 price objective on Palo Alto Networks and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks has an average rating of "Moderate Buy" and an average target price of $208.00.

View Our Latest Analysis on PANW

Palo Alto Networks Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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