Delta Investment Management LLC Acquires 1,357 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Delta Investment Management LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 118.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,498 shares of the network technology company's stock after purchasing an additional 1,357 shares during the quarter. Delta Investment Management LLC's holdings in Palo Alto Networks were worth $455,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Uniting Wealth Partners LLC bought a new stake in Palo Alto Networks in the 4th quarter valued at $548,000. Rehmann Capital Advisory Group raised its stake in shares of Palo Alto Networks by 106.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock valued at $433,000 after purchasing an additional 1,226 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Palo Alto Networks by 94.3% in the fourth 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 purchasing an additional 5,658 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in shares of Palo Alto Networks by 108.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock worth $3,886,000 after buying an additional 11,095 shares during the period. Finally, National Pension Service grew its holdings in shares of 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 buying an additional 606,778 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on PANW. Scotiabank boosted their target price on Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a research note on Tuesday, January 21st. Jefferies Financial Group boosted their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 target price on shares of Palo Alto Networks in a research report on Monday, March 31st. KeyCorp cut their price target on shares of Palo Alto Networks from $240.00 to $205.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective for the company in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $203.46.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $194.30 on Tuesday. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The stock has a market capitalization of $128.65 billion, a P/E ratio of 109.47, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. The stock has a fifty day moving average of $177.67 and a 200-day moving average of $185.26.

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

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the sale, the executive vice president now directly owns 321,774 shares of the company's stock, valued at approximately $48,629,704.62. This trade represents a 27.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 568,962 shares of company stock worth $96,933,690 in the last three months. 2.50% of the stock is owned by corporate insiders.

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.

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