Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Position Raised by EDENTREE ASSET MANAGEMENT Ltd

EDENTREE ASSET MANAGEMENT Ltd lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 100.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,850 shares of the network technology company's stock after purchasing an additional 24,425 shares during the period. Palo Alto Networks comprises approximately 2.6% of EDENTREE ASSET MANAGEMENT Ltd's holdings, making the stock its 11th biggest holding. EDENTREE ASSET MANAGEMENT Ltd's holdings in Palo Alto Networks were worth $8,889,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. JDM Financial Group LLC increased its stake in shares of Palo Alto Networks by 22.4% during the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock worth $59,000 after purchasing an additional 59 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after acquiring an additional 69 shares during the last quarter. Rakuten Securities Inc. boosted its position in Palo Alto Networks by 8.4% during the fourth quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company's stock worth $165,000 after acquiring an additional 70 shares during the last quarter. Finally, Cedar Mountain Advisors LLC boosted its position in Palo Alto Networks by 70.3% during the fourth quarter. Cedar Mountain Advisors LLC now owns 172 shares of the network technology company's stock worth $31,000 after acquiring an additional 71 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PANW shares. Citigroup raised 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. Wells Fargo & Company raised their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Wednesday. Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. UBS Group raised their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, Roth Capital started coverage on shares of Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $206.40.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the transaction, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the completion of the transaction, the executive vice president now owns 293,010 shares in the company, valued at $55,458,002.70. This represents a 29.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 568,962 shares of company stock worth $96,933,690 in the last quarter. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Trading Up 0.3%

PANW stock traded up $0.61 during trading on Friday, reaching $186.75. The stock had a trading volume of 4,898,365 shares, compared to its average volume of 5,612,883. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The company has a market capitalization of $123.65 billion, a P/E ratio of 105.21, a PEG ratio of 5.64 and a beta of 1.02. The firm has a fifty day moving average price of $178.11 and a 200 day moving average price of $185.30.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The firm's revenue was up 15.3% compared to the same quarter last year. Sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS 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.